WHY HousingCrisisStories.com?

Help for Problems that Originated Out of the Housing Crisis

A note from Pam Marron, website author

Problems that the American public have never experienced before came out of the housing crisis that was full throttle from 2007-2012. This site was created to address housing problems that spurned out of this period and many unintended consequences that have occurred afterwards.

As problems were catalogued and solutions were sought, affected consumers were asked to provide detail about their side of the story to understand the path of how so many got to the place they were in. Instead, almost every person interviewed or helped did not publicly assist with being the face of the housing crisis.  Instead, a common thread connected every one of these people.  Every one of them did everything possible to save their home at the expense of assets that weren’t supposed to be used to save a home. It did not make a difference how much homeowners initially put down on negative equity homes. And though retirement funds weren’t a required asset that had to be liquidated before help could be provided, many homeowners did liquidate 401K’s and savings until nothing else was left. At that point, affected homeowners had no choice but to do whatever was necessary. Over and over again, stories were told of how lenders told these consumers that in order to get help, they had to go delinquent on their mortgage and prove a hardship first. The humiliation and shame of millions who were labeled “strategic defaulters”, or those who could make their payments but chose not to, was the dirty secret of that period. In fact, affected consumers were bewildered by the irony that credit needed to be pretty good to get the loan for the home in the first place… but that credit had to be destroyed to get approved to “short sell” if they were “underwater” on the mortgage. It was no wonder that these consumers did not want to come forward and publicly expose the event. Many blamed themselves, thinking there was something they missed that could have warned them of the downward turn in home values.

These consumers and their stories made a huge difference in the way I now do business. So many stories with so many similar points have convinced me that the overwhelming majority of homeowners affected during the housing crisis did all they could to stay solvent in their homes and only finally gave up after they were financially wiped out.

These stories, continued problems and a quest to remedy problems never faced by home buyers in the past are what makes up this website.

Those that can help are listening.

Pam Marron



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