Common logic once told borrowers that it was shameful to declare bankruptcy. Our parents told us or taught us, to always pay our bills. Lenders knew the basic human values, and that one would always make their house payment and their car payment. But somewhere between those days and today values and expectations changed.

It was a general change that looked like our swimming lessons back when we were kids. Coax someone into the pond or pool. Reassure them that it’s OK. Lenders did it, and they enticed borrowers into a pool of ever-changing options. Thirty years ago if a person had bad credit they could not buy a car because nobody would finance them. Now anybody can buy a car.

Foreclosure has always been around. Mortgage companies are singing the blues today because they lost sight of what actually made sense. Home owners might look at it differently. To have enough money to pay the mortgage, especially after one’s credit deteriorates, a family often changes things in the budget. If you ever considered a settlement offer please see our friends over at Settlement Scams so you can learn about settlements. It seems like “protect yourself at all times” is the name of that game.