The Change

As the managers of You Be Aware listened to the public it became obvious that there was a need for a "clearinghouse" of reliable information to deal with economic issues or natural disasters that affect American families. Adding alerts and self-help tools for the credit crisis in America was a natural progression that came from listening to what the the public wanted. As the housing/mortgage crisis began to develop it became obvious that the national economic problems could be even more devastating than a natural disaster. Millions of American families are either already in foreclosure or on the brink of financial disaster.

Although the reasons that these problems have occurred will be debated for years to come, the reality is that it is having a devastating effect on many American families. Some things are clear though. Predatory lending practices which often used misleading information (and sometimes outright fraud) led many people to acquire mortgages which now are beyond their ability to make the payments on.

The mortgage companies and banks, in their greed for more assets, facilitated an environment of upward spiraling home prices that was unsustainable. Adjustable rate mortgages, No Doc Loans, 125% of Equity, and other "creative" programs were used to disguise the growing disaster. When the bubble burst, many homeowners found themselves upside down in their mortgage. They owed more to the bank than their home was worth. If they walked away or stopped making payments the credit would be ruined. If they stayed, they faced years of payments that would only benefit the bank, or selling at a loss and still having to pay the bank the amount that was lost.

Fortunately, as You Be Aware researched this problem for its members, we discovered that there are favorable modification programs and sometimes legal answers for consumers who are facing this problem. The company made considerable efforts to help people fighting this financial crisis. We will continue to help our members and this crisis will eventually pass. You Be Aware will continue to grow and listen to the concerns of its members and be ready for the next crisis when it occurs.

Continue: Whats Happened (2008)