The steps being taken by the Government with regard to improvement of the foreclosure situation in the United States do not seem to be enough. Though many reforms and programs are being implemented by the US Government, the unemployment of the masses remains to be the crux of all the problems till date. Foreclosures for sale are not only affecting the US economy but even the state of politics, crime and health in the country has not been spared by its impact.
The Government has been continuously bearing the situation of extra financial burden on them due to foreclosures. They have spent millions of dollars already to salvage the situation and to clear up the foreclosure cases somehow. However, all these have not really been helping much. This is the worst kind of foreclosure situation that the US Government has seen in practically 54 years! Money is being spent on implementation of various programs and policies that are not reaping the desired results.
Foreclosures have rendered many people homeless or have forced them to keep switching their temporary residences. However, another non-economic problem that has arisen is that midterm elections are soon to be held in the country. And the proof of one being a US citizen is mostly given by the residential address. Their eligibility to vote will be questioned because they don’t really have a home of their own. Moreover, if we look at this situation from a voter’s point of view, then someone who does not have a roof over his head will not be willing to take time out and go through the procedures established by the country to become eligible for voting again. Thus, fair elections seem out of question too.
Foreclosures haven’t even spared the health of the individuals facing this grim situation. Studies and hospital records have indicated that people whose properties have been foreclosed are more likely to have anxiety attacks, higher stress levels, fear of going into depression etc. They have to live in cheaper accommodations which are not very healthy places to live in. They are more likely to have flies, mosquitoes and cockroaches which only cause more health troubles and increasing hospital bills.
The cases of foreclosed properties being used for illegal activities and increasing crime rates is also a cause of concern. People are jobless and are thus looking for alternate ways of survival. The values of other houses in the neighborhood are also getting deprecated by the day.

This entry was posted on Friday, September 3rd, 2010 at 9:42 am and is filed under Uncategorized.