Winning in a Time of Foreclosures
October 11, 2007
Foreclosure filings nearly double
LOS ANGELES (AP) Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure, a real estate information company said Thursday.
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"Do not be a man who strikes hands in pledge or puts up security for debts."
There are legitimate reasons for borrowing and lending, but the biblical bias is always cautionary.
Since he was not able to pay, the master ordered that he and his wife and his children and all that he had be sold to repay the debt.
We do not live is such draconian times, unless one considers the threat of homelessness and bankruptcy as a form of slavery imposed upon our children. Certainly there is nothing new about the dangers of out of control, unsecured debt.
Paul's insight goes deeper than that of economics:
[ Love, for the Day is Near ] Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law.
The remaining reality is that there is some real suffering rising to the surface in the tide of our current human experience and the remedies are illusive.
You and I know that there is no significant bail-out coming from the outside and that we must each take control of our financial well being. There are only these possible solutions and like most things in life, it take a balance of all of them working in concert to effect change:
1. Spend less and borrow little. - There is never a bad time to be more careful about spending, especially on non-essentials in relation to credit. America's credit card debt is out of control. Spend what you can pay for on what you need. Ben Franklin was write in Poor Richard's Almanac when he observed that a penny saved is a penny earned. There is a biblical word for over-consumption and it is "gluttony." Through it, much debt is incurred because we believe we really must "have it now," and the credit card companies tell us we can and should:
... and put a knife to your throat if you are given to gluttony.
... for drunkards and gluttons become poor, and drowsiness clothes them in rags.
2. Save and invest wisely. Whatever you can save, save. When you have an opportunity to invest, do so with a eye toward the potential return. What investments will produce income? Study, learn, and do. The wise and virtuous woman in Proverbs was an investor:
She considers a field and buys it; out of her earnings she plants a vineyard.
3. Make more. One area where it is wise to spend is on your own development - especially, from a financial point of view, your financial, business, and professional education. There are many ways to make more money. One is to work harder and that can be good. Another is to work longer and that might be necessary. A third is the one you need to move toward and that is to work smarter by leveraging your time, energy, and knowledge. That is the core genius of network marketing and other concepts in marketing. The Proverbs elevates the value of work:
All hard work brings a profit, but mere talk leads only to poverty.
For a list of business opportunities I recomend, check my links here at The Dream Factory.
Of course, you may have already found your vehicle and, if you have, it would be my honor to encourage you along.
These are financially critical times, but you can succeed with informed output of energy and commitment. Dream great dreams and move forward. Keep a positive outlook. Keep your hand and hearty open to others, and be confident enough in the future to be generous in your giving. Consider it an act of faith and move forward:
A generous man will prosper; he who refreshes others will himself be refreshed.
As John Wesley said:
Having, First, gained all you can, and, Secondly saved all you can, Then give all you can.
You are on the winning team.