One news article urges people to be smart about their biggest investment – their home – while another article says people are giving up. I suppose it depends on your track record and your lender. Some mortgage lenders have nothing to lose either way, such as HSBC, where losses continue to mount and investors are urging the bank to dispose of HSBC Finance. Unfortunately nobody wants to buy the troubled unit, once known as Household International. Yes, it is a good idea to be smart about your biggest investment, but logic and intellect tells us to be realistic.

Discovering the financial bottom line is the practical solution. If your mortgage company lied to you, sold you a bill of goods, or out you into a contract that cannot be paid off then you are in control. Many people are mailing the keys to the house in the payment envelope. Remember the early 1980′s when interest rates were pushing 20 percent? Many homeowners did the same thing. Many people lost their homes.

Is you lender responsive to helping you as a borrower? Remember, employees are afraid for their jobs, and many also have home mortgages. For some employees there is little incentive to help anyone, regardless of the fluff and chatter coming from George Bush, Benanke, and the HopeNow idea. Americans are reluctant to give up commonly expected items in today’s society, such as Internet access, cell phones, satellite with movie channels, etc. If Americans can continue with these “basics” while living in an apartment or rental house they will do it. Priorities are not the same as they once were.