James J. Saccacio, chief executive officer of RealtyTrac has been crunching his numbers again. In his latest, brilliant analysis he notes that:
"A shift in the distribution of activity indicates that there is a progression toward purging the problem loans out of the system -- at which point the housing market can regain some sense of normalcy. Of course, if another surge in defaults occurs, which could well happen later this year, it would refill the foreclosure pipeline and prolong the recovery."
To folks like 'Mr. Suckcockio,' the millions of people losing their homes are just diseased wood that must be truncated from a tree so that it will be healthy once again. They must be purged and sent to the landfill. It defies logic that all these homeowners took 'bad loans'. They are trapped in a vicious cycle of a prolonged bad economy, joblessness and high cost of living. They can't sell their homes quickly and they can't refinance. They are facing the lowest home price devaluations in a generation.
If you are facing foreclosure today, please understand that not everyone is as clinical as Mr. Suckcockio. There is help out there. Don't give up the fight. Explore every possible avenue.
I heard a story yesterday of a woman who took her life so her husband could use the insurance money to save their home. We can't possibly understand the mental anguish that she must have been feeling. If you live in a home long enough, it becomes a part of you and losing it feels like the death of a family member. It cuts to the core. There is so much suffering across the United States and unfortunately, the attitudes of clinicians like Mr. Suckocockio make it difficult to provide real relief to these 'whiners.' May God go with you and give you the strength to survive this ordeal.