This morning i woke up with this question in mind, as i was going over why even after years of trying to draw attention to the problems that are now getting ready to terrorize veterans and their families, there are people who still don't understand the cost difference in helping keep veterans in their homes versus foreclosing and letting them go homeless. While for me it seemed a no brainer, I figured it was best to lay facts down for everyone to see, so here it goes:
Keeping veteran families in their homes is more cost-effective than allowing foreclosure for several reasons:
1. Avoiding Costs of Foreclosure Process: Foreclosure is a lengthy and expensive legal process for both the homeowner and the lender. Legal fees, court costs, and administrative expenses associated with foreclosure proceedings can add up quickly. By preventing foreclosures, these costs are avoided altogether.
2. Preserving Home Values: Foreclosed properties often sell at a significant discount compared to their market value. This can lead to losses for lenders and investors. Additionally, foreclosed properties may contribute to declining property values in the surrounding neighborhood, affecting the overall stability of the housing market. By keeping veteran families in their homes, property values are preserved, benefiting both homeowners and the community.
3. Reducing Homelessness Costs: When families lose their homes to foreclosure, they may become homeless or face housing instability. The costs associated with providing emergency shelter, transitional housing, and support services for homeless individuals and families are substantial. Keeping veteran families in their homes helps prevent homelessness and reduces the need for costly emergency interventions.
4. Maintaining Community Stability: Home foreclosures can have negative ripple effects on communities, including increased crime rates, lower school performance, and decreased property tax revenue. By supporting veteran homeownership and community stability, the Heroes' Home Protection Act helps mitigate these broader social and economic costs.
5. Supporting Economic Growth: Homeownership is often a cornerstone of household wealth and financial stability. By enabling veteran families to remain in their homes, the act supports economic resilience and growth. Stable homeownership encourages consumer spending, promotes neighborhood revitalization, and contributes to overall economic well-being.
In summary, investing in programs and policies to keep veteran families in their homes is not only morally imperative but also economically prudent. By avoiding the high costs associated with foreclosure and promoting stability and prosperity within communities, such initiatives ultimately benefit veterans, their families, and society as a whole.
This should be a no brainer, and something everyone from all walks of life should be rallying behind. I have found, however, that to not be the case. Its taken KOVH a year to get over 1k signatures while so many rant about patriotism, flags, and freedom. Hypocrisy or just refusal to accept the real cost of helping versus accepting what we're told is true and what we feel to be true. These are human lives who once put it all on the line for a now ungrateful nation. It is a sad day when we can send millions into billions to other countries but cant afford to fund real programs to help keep Americas heroes in their homes when a pandemic turns their world upside down and they find themselves fighting the very country they fought for.
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