Final Words from the Book – “MIND YOUR OWN MORTGAGE”
Our nation is in desperate need of healing. That healing begins and ends at the household level: only strong household economies will result in a strong national economy. Economic healing can only occur by building financially viable households, one by one.
This means we can’t revert to the old ways. It’s impossible to prosper if you live beyond your means. This applies to individuals, families, businesses, and the government. Thus, the culture of consumerism is a trap. We took down the economy because we allowed the free market to take advantage of our weaknesses. That does not, in and of itself, make the free market a bad thing. It’s up to us to say no! Spurring another consumer nation that spends at the same irresponsible levels of the past will only defer the inevitable. Building a better America starts in the trenches— with you and me.
This applies to the mortgage industry too. Despite the melt- down, it’s operating in much the same way as it was before the crash. The messaging about lower payments—about the monthly “savings”—hasn’t changed one bit since the meltdown. And it won’t in the near future, but now you know better.
It’s time to get serious about creating a sustainable American economy. I’ve said it before: the moment we begin to live financially responsible lives, the economy will tank. Fortunately, this will be a temporary problem—the system will adapt to a country of savers if we stick to our guns. Consider it a grassroots campaign, starting with being smarter about our largest debt—our mortgages—and extending it into the way we live our lives. We must ignore the prod to spend and take it upon ourselves to stand strong. It’s a free market—just as it should be—and we are free to decide.
I hope this book does more than turn the mortgage industry on its head. I hope it inspires you to find your path to financial restoration and stay there, creating a sustainable economy that will benefit generations to come.
