Not everyone wants to be helped
The Hope Now Coalition refuses to take into consideration that many homeowners don’t want help. CNN recently published an article that focused on the millions of Americans who are not taking advantage of the programs available to them to avoid foreclosure. The Hope Now team repeatedly has claimed that we need to do more to make everyone aware of the options available to them. Here is the problem, about 80% of every homeowner contacted by the Hope Now Coalition ignores them. (they are contacted after the foreclosure process has started) So why would a homeowner not want help?
Let’s say you are 100k+ upside down in your home. You see no future signs of the market turning. Is it possible you would be hurting yourself more by keeping the property? Yes, it is. Each situation is different and many homeowners feel that by keeping the property, they will only be continuing to get deeper and deeper in debt. The media, the Hope Now Coalition, and others.. need to realize that while it may not be ethical, many homeowners are better offer losing their home to foreclosure than piling on more debt in order to keep a depreciating asset.