For years now, we have been dealing with an economic crisis that has affected everyone throughout the U.S. We have the banking system to thank for this mess. In Clark County, the foreclosure rates have increased rapidly through the years, and in past months changes have come into effect that only benefit banks, while hard-working folks are being stripped clean from their homes. To clean up this mess, the government decided to bail out the banking system, yet our economic situation saw little to no improvement.
Now that banks are breathing easy, they still make it tough for homeowners to save their homes. Local banks shortened the time allowed when a homeowner became delinquent on mortgage payments, from eight to 12 months to the current four to five months, before sending out 30-day notices to bring the mortgage current or face foreclosure. This can’t be good for our local economy. Why not help out the weak link to strengthen the chain? Who’s bailing out people like you and me? Seems that the big guy is still stepping on the little guy.