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Foreclosure Crisis Essay

825 Words4 Pages

In 2008, the real estate market fell to almost complete collapse. Since then people have tried to recover from their downfall. As time progress, people have started to get back on their feet. Some people have even turned their problem into a favorable situation. Now, the home prices and interest rates are at a more reasonable level. These victims of foreclosure have become booming real estate experts. They have found ways that they can take charge of the current economic situation. These foreclosure victims can take advantage of the real estate market at this time by using their previous knowledge of the system to help them. They have experience that other people do not understand. They have learned things about the real estate market that …show more content…

Then, they could build a house on the property. This could only work if they actually had the money to invest in the property. If the people are not in extreme debt, they could take a loan to help their issue. This is considered an investment in their future. If they are successful, they can live in their home for a while. They could find more property to where they could build more houses, or they could enter into the larger part of the real estate …show more content…

This would give the person an opportunity to find a home that would be affordable. Then, the roommate could help split the costs until the issue improves. The roommate would be someone that cares about the person’s future happiness. Later, once the person could be able to have a mortgage again, they could use the market to pay back the person with property that could be for emergencies. If the roommate ever have the risk of losing their home, they could have a place they could call home until they improve their

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