Beam Me Up Scotty

Stabilizing the housing market reminds me of Captain Kirk asking Scotty for more power and he responds with “I don’t know how much more she can take…”

The Preserving Homes and Communities Act of 2009 forces lenders to offer loan modification to mortgagees that meet the qualifications.    Yet more legislation that becomes necessary because the voluntary efforts to assist families on the Sandpoint foreclosures list have utterly failed.

Sandpoint foreclosures are homes where each family has a unique story.   “There is no shame in people knowing that my home was auctioned after being on the Sandpoint foreclosures list” said one resident.

A notice of default, showing up on the Sandpoint foreclosures list, or having your home auctioned is becoming as common as Klingons at a Star Trek convention.   Effective programs to slow or stop foreclosures feel like they are worlds away.

You don’t need to consult with Spock to realize how illogical it is to use tools designed to fix problems from last year.  We desperately need new tools.

Tags: forces lenders, there is no shame