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To: Cogito Ergo Sum who wrote (50082)	7/27/2013 5:16:21 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70308

Despite the re-bound in housing what might not been priced in are the structural changes that have occurred to the US economy. The average salary/wage for many US workers has gone down because they are working part time and many will be semi-retired in the coming years but will have to work minimum wage jobs to offset the insufficent payments from their pensions. Combine that with a need to returns to historically lower rate of home ownership and the smaller size of the 20 to 30 somethings whose careers are being delayed because babyboomers can't retire as assume and you have a cocktail for the current situation that need to be work through in the coming decade

To: Cogito Ergo Sum who wrote (50082)	10/17/2013 7:24:35 AM
From: johnturner2	Respond to of 70308

Those are shocking statistics - firstly that 1.2 MILLION people have used the scheme and then to learn that 300,000+ of them are still defaulting. Something ain't right, that's for sure. I think a general problem is people just aren't educated on the stages of foreclosure and how to get themselves out of trouble. Being in this situation is terrible but it's vital that people get educated on their options and don't bury their heads in the sand. Speaking to your bank, trying to re-finance, seeking external debt counselling are all great options for people to consider. Bankruptcy is an option that I think people jump into too lightly. While it can be a great option for many people, it's vital that people know the facts before they jump straight in. Speaking to an attorney - such as at www.byedebt.net can be a great way to get some advice on your options and the pros and cons of bankruptcy. Often the consultation can be free as well, so there's nothing to lose. I think people should stop trusting the government to help with their schemes and get educated themselves so they take their next steps with their eyes wide open. Just my two cents worth! :) Cheers JohnT