The Cure For The Foreclosure Epidemic: Part 2–American Dreams

Everyone imagines their dream life. Part of this dream derives from our own individual goals and motivations and possibilities.  Part comes from a culture.  Our culture. After all everyone from friends and family and realtors and loan officers pushes to buy a home.

This post follows the Introduction and Part 1 about our foreclosure problems.

It’s no secret that, today, more than ever, Americans want things.  Big things. Lots and lots of things.  Expensive things.  Nothing wrong with that. The one ‘thing’ that we all want, that is not always stated out loud yet is clearly the loudest voice inside us, is our desire to be happy.  And this is where the dream can become nightmare.

We are told that the American dream is to own a home. Home:  a word that has many connotations. Here’s the Wikipedia definition:  A home is a place where a person or family lives, perhaps spends much of their time, or where a person is comfortable being. The cloud of foreclosure oven moves in when people follow their dreams, often unrealistic, instead of pursuing the process with a practical, planned, and informed approach.

Where a person is comfortable being. I find this phrase so appropriate.  Do we buy a home because that is what we are supposed to do (like everyone else)? And buy a home a touch bigger than our best friend, just for bragging rights? Or do we in fact buy the appropriate home where we can live comfortably and without stress to make that monthly payment? 

This is a great question to ask yourself when starting to think about buying a home: Am I buying a home because I want a place for me (and my family) to be happy and live a comfortable life, or am I buying a home because everyone tells me I can and everyone on television and in the movies has these fabulous, huge houses and I want to be like them and live a life like them (even though I may not be able to afford it)?

My wife often humorously complains that she can never remember her dreams (after waking up in the morning).  “I know I had this dream, and I remember laughing in the dream,” she might say, “but I can’t remember anything else.” Unfortunately, as we have been seeing, many people followed their dream and will only remember the loss and pain that comes with a foreclosed property.  As I always suggest: budget and meet with a caring loan officer.  A great start to fulfilling your homebuying dream that will end up being a comfortable and happy part of your life.

20 June 2007 | First Time Homebuyers, Pre-Approval, Loan Officers, Foreclosure | Comments

Permalink | TrackBack