Yahoo Headlines on Home Repossessions

Just as I was about to open my yahoo mail account last night, I noticed with horror the Yahoo headlines stating that home repossession orders surge. You can read the full article here.
http://uk.news.yahoo.com/rtrs/20080509/tpl-uk-britain-repossessions-orders-20b2d2f.html


Briefly, this is truly the worst news possible for all those with debt problems because they state that there are more people on the verge of losing their homes than in the early 1990's recession and according to experts, it is going to get worse.

Having lived through that particular recession, I am shocked that this is the case. Why on earth hasn't someone sitting in the comforts of Parliament or The Bank of England come up with a prevention strategy before debt problems in the housing market reached this level of disintegration? These, after all, are the people who are paid handsomely to ensure that people living in the country are protected from disastrous financial events.

I have actually heard someone recently say that a lot of people deserve their mortgage problems because they gambled on buying a house when prices were high, in the hope that they could afford it if the mortgage interest rate increased. My answer would be, with approximately 12 million mortgages in Britain alone,

1. why were house prices allowed to treble in a decade?
2. why were people allowed to borrow so much more than they could afford to repay?
3. why had the government not addressed this, knowing full well that history repeats itself as it surely has done with home repossessions?

Europe, America and all countries world wide are in similar positions with their debt problems and home repossessions. Surely one day, someone will get up and be counted and help all those who wake up every morning in the bleakness of living with their debts challenges of which home repossessions is just a part.

US home repossessions hit record high

Business & money: Slump in housing market and impact of credit crunch affect country's poorest borrowers.

Mass Home Repossessions In Our Future in the UK

Vince Cable, the deputy leader of the Liberal Democrats, has given warning of a “very real possibility of mass bankruptcy and home repossession across the country”. More borrowers could be thrown into difficulties by the abrupt ...

Australia: Families hit by rising bankruptcies and home repossessions

... broadcast on Australian television provided a timely insight into the desperate circumstances afflicting a growing number of ordinary Australians who are mired in debt and threatened with bankruptcy and the loss of their home. ...

This depressing news has to stop - and with the right frame of mind, the right tools, it can be turned around. The opportunities which are available today, where not there in the early 1990's - so for the majority of people there is a way out of the darkness of home repossessions. Click here for the free report.

Debts Challenge - How To Turn Your Debt Into A Winning Challenge

YES WE CAN – Eliminate the Debts Challenge Through Education

The big question is, can we eliminate the debts challenge faced by families all over the world through education?



YES WE CAN!

When I wrote this post, it was National Teacher Day in America. A day for thanking teachers for the continuing hard work that they give in order to ensure that their students reach the levels of attainment that they can aspire to.

Teaching children about money should start from when a young child first earns pocket money and should be taught right from the beginning exactly what the value of this money is.

When a child reaches school age and starts to learn maths, they should also be learning about the importance of money. Throughout their years of education, they should be taught how to budget, how to use credit cards, the type of mortgages they can apply for and all areas of the value of money.

However, at this moment, teachers world wide are suffering from the lack of support they are getting from the appropriate authorities. It is normal for teachers to have to work long hours, from planning lessons before the actual class, to correcting homework after the class, which is often done in the evenings or weekends.

The fact that they are working such long hours already can, not only affects their health but, the result of this can easily be affecting our future generations due of their lack of education in financial studies.

When someone in the political arena has the gumption to stand up and be counted as the person who changed the way that the education system looked at monetary issues as being a necessary part of the curriculum, then, and only then, will we be nearer the time that families will not have to suffer with the debts challenges of today.

If only there were more people like Mattye Whyte Woodridge ...

"According to the National Education Association, Arkansas teacher Mattye Whyte Woodridge began corresponding with political and education leaders about the need for a national day to honor teachers in 1944. Woodbridge wrote to Eleanor Roosevelt, who in 1953 persuaded the 81st Congress to proclaim a National Teacher Day." You can read more of this article here ... http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080506/WDH0101/80506073/1981

If someone took a stance now, within a few years the younger generation would be more capable of taking full responsibility of their finances. We owe them that opportunity.

Going back to the original question of can we eliminate the debts challenge faced by families all over the world through education?

YES WE CAN!


Debts Challenge - How To Turn Your Life Into A Winning Challenge