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of time before the bank, or lender will start to take serious action.

People can get a fixed rate mortgage and know everymonth, what the mortgage interest and principle payment will be, with no ups or downs, decreases or increases. That is the beauty of a fixed rate mortgage product: you know what you have to pay each month. You can plan accordingly. Not so with an ARM.

The solution for the foreclosure crisis is to avoid unnecesary risk, be reasonable, read the fine print of the loan product, make sure your lender is upfront about fees and costs. Make sure you are not being pushed into a risky loan product that you feel in your heart that is not clear, clean or safe. Make sure you can afford what you have to pay for the loan product selected. Make sure your lender gives you loan product options so you can determine what is best for you, for your situation.

Lessons have been learned for those already impacted by foreclosure, but more needs to be done to help those in foreclosure. Perhaps a bank set up for the purpose of bailing out the victims of foreclosure. I say victims, when both lender and borrower share some of the blame for getting into the financing mess. All the money Americans have as a society, seems to be going all over the world, but can go to help those in need: the foreclosure victims. The money is out there, but the plan needs be be given birth to resolve this foreclosure mess once and for all. Regulations are needed. The mortgage industry does need to be tightly controlled since for most people, buying real estate is their biggest investment, and it has been all too easy for lenders to rip off borrowers, or treat them unfairly.

The biggest solution to the foreclosure problem is simply following the Golden Rule: "Whatsoever things ye would, that men should do to you, do ye even so to them." There is a lot of truth in the old biblical teachings, and that is what our communities need. A Golden Rule lender will not offer a loan product that the lender would not think is acceptable if the lender was making a home purchase. It all goes back to doing the right thing. The Golden Rule followed, will allow for honesty, and trustworthiness in the mortgage industry.

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