FORECLOSURE CRISIS: NEVER AGAIN?

By Jan Bergemann

Published September 23, 2016

 

It seems that the number of FORECLOSURES is going down. But will it stay that way?

 

I guess we all know the old saying: “History repeats itself!” To me that means that we should know our history to avoid the mistakes we made in the past.

 

But does that mean that the banks and mortgage lenders have learned from their mistakes and changed their lending policies?

 

Obviously not – since we see the same advertising again that led to the foreclosure disaster from about ten (10) years ago. Haven’t they learned anything? Here we go again: Little or no down payments for people with good credit scores. The credit scores are actually a joke: Remember: The more debts you have, the higher your credit score!

 

No debts, real bad credit score! Makes sense? Not to me!

 

European banks don’t use credit scores -- they think it makes no sense loaning money to somebody who already owes a lot of money. And as you might remember: There was no foreclosure crisis in Europe.

 

Here in Florida families lost their homes because they were unable to pay the seriously increased maintenance fees and special assessments caused by owners un foreclosure who didn’t pay their maintenance dues – causing serious budget shortfalls and many unpaid bills.

 

Do we want this to happen again? If another foreclosure crisis would hit us it would mean that we haven’t learned a bit from history – and we – especially the greedy bankers – made sure that history repeated itself.

 

In my opinion we are only seeing the "Calm Before The Storm": Watching the real estate market and the mortgage offers I think we are steering into the same disaster of foreclosures again. It's just a matter of time!


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Jan Bergemann Jan Bergemann is president of Cyber Citizens For Justice, Florida 's largest state-wide property owners' advocacy group. CCFJ works on legislation to help owners living in community  

associations. He moved to Florida in 1995 - hoping to retire. He moved into a HOA, where the developer cheated the homeowners and used the association dues for his own purposes. End of retirement!

 

CCFJ was born in the year 2000, when some owners met in Tallahassee - finding out that power is only in numbers. Bergemann was a member of Governor Jeb Bush's HOA Task force in 2003/2004.

 

The organization has two websites to inform interested Florida homeowners and condo owners:

News Website: http://www.ccfj.net/.

Educational Website: http://www.ccfjfoundation.net/.

   
We think that only owners can really represent owners, since all service providers surely have a different interest! We are trying to create owner-friendly laws, but the best laws are useless without enforcement. And enforcement is totally lacking in Florida !


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