Delima: Christian family with seven children own a home now for 10 years, cannot afford it due to adjustable rate increase. Mort. company won't work with this family, and call themselves "loan servicing center." Not a mort. company. Is it God's way to walk away and allow foreclosure to proceed, and then move into a home that is much less in cost? I know that would be "living within what God provides," but I want to know if foreclosure is wrong for Christians?
2006-06-20 07:16:42 · 20 answers · asked by Lovemyfamily 3 in Society & Culture ➔ Religion & Spirituality
Foreclosure is not right or wrong for a Christian. If a Christian can prevent it, he should. Is the 'loan Service Co.' being fair according to their contract? If so, then the family should move or at least try to sell and work it out. If this company is what is known as a 'predatory lender' then the family should hire a lawyer and sue them in Court.
2006-06-20 07:24:29 · answer #1 · answered by Anonymous · 2⤊ 0⤋
I think you may find my answer rather critical and judgmental, but here goes.
First off having seven children in this day and age is grossly irresponsible. Clearly you cannot afford to have that many children and you are about to have to downsize which will be detrimental to all of them.
Second, getting an adjustable rate mortgage on a home and then doing nothing as you watched the interest rate creep up is unbelievable irresponsible when you have a family.
Your best hope is to approach a reputable mortgage company and see if there is any way you can re-finance your home on some kind of fixed rate mortgage. Rates are still fairly low and if you have equity in your home (which you should after 10 years) you may be able to re-finance the home at a rate you can afford.
Assuming this is not an option understand that a foreclosure will likely preclude you from getting any kind of affordable mortgage in the next 5-7 years. You will be considered by the lending institution as an irresponsible credit risk.
From a Christian point of view there is nothing wrong with a foreclosure. The bank will quick sale your home at about 80% of its value and any money you still owe after that will still be owed by you unless you file bankruptcy. So unless you file bankruptcy the lender will get back what you owe them, and making good on debt is a reasonable Christian thing to do.
2006-06-20 14:31:49 · answer #2 · answered by ZCT 7 · 0⤊ 0⤋
Christians are not immune from the effects of the law, regardless of which direction they come from. If you cannot make the payments on the home, then you have no choice but to vacate. You are not committing any kind of sin by allowing foreclosure because there is nothing you can do about it. If you have an opportunity to move into another place, then do so now before you are evicted with all of your possessions on the street and no place to go---that would be sin, the sin of not taking care of your family. It is best if you can leave the property on good terms with the loan service center. I cannot tell you how God is working in this situation---you will have to fellowship with him in prayer to learn that. Jesus loves you and he will see to your needs. Bless you and I pray that everything will work out for you to the greatest amount of good for you and your family and to the greatest glory of God.
2006-06-20 14:27:50 · answer #3 · answered by Preacher 6 · 0⤊ 0⤋
I don't think so. Even in the Old Testament, there was every 7 years that people were suppose to be released from their debt. Sounds like bankruptcy rules to me.
As a Christian, to get rid of it because you didn't try would be wrong, but if you just can't do it, then I am sure God understands and will work that bad thing that will happen to you into something good, that is how he works. He takes a bad thing and works it against evil for good.
Good luck and pray to God for guidance.
2006-06-20 14:27:29 · answer #4 · answered by Gardener for God(dmd) 7 · 0⤊ 0⤋
God or not, a foreclosure is almost never the answer, it's going to be way hard to get another mortgage if you go that route. Is there any way you can sell the house? even if you can't sell it for as much as you owe it will be better than getting foreclosed on. Talk to the company that handles your house payment and tell them you can't afford the payment and see if they will work with you on a refinance or something, believe me the bank doesn't want to foreclose, it will cost them more than they will make, from a financial standpoint it's smarter for them to work with you.
2006-06-20 14:22:02 · answer #5 · answered by smunkeemom 3 · 0⤊ 0⤋
If the family has tried all their means to pay their debt and can't and that is the only way out, they cannot help that. I don't think foreclosure is wrong for Christians if that is the last resort they have. Have they tried to sell their home?
2006-06-20 14:24:00 · answer #6 · answered by Caleb's Mom 6 · 0⤊ 0⤋
I suggest you locate a Christian company that can help you out. There are plenty of Christian non-profits and profits that specialize in low cost loans designed for people in your situation.
For example, many Catholic organizations first came into existence to help poor but large families manage and grow their assets. The local parish and your local Catholic diocese will also have a network of individuals that can help people out EVEN IF YOU ARE NOT A CATHOLIC.
Look around, you will find help because we Christians who promote the culture of life are interested in helping people in such a situation.
2006-06-20 15:32:49 · answer #7 · answered by Liet Kynes 5 · 0⤊ 0⤋
Faith in Him can and will lead people through anything. We also have the church that should help out. God doesn't want us to be defeated, and not everything that happens is God's will, we sometimes do things that cause consequences. Why get into a debt that you can't pay? We are called to be good stewarts of our money. Also we are also to pay every debt.
2006-06-20 14:27:24 · answer #8 · answered by thisisme 3 · 0⤊ 0⤋
You need to do what is best for family. If God is in your life, you have nothing to be ashamed about. Just remember to keep God as your number 1, and he will help you get through all trials. Bad things happen to good people all the time. You have to do what you have to do.
2006-06-20 15:01:22 · answer #9 · answered by ? 2 · 0⤊ 0⤋
Yes it is wrong because if you would like to follow what Jesus said it's very simple.
Mark 10:21, where Jesus tells a rich man that if he wants to follow God he must sell everything he owns and give it to the poor.
Try this to show to your bank and i bet most ppl in the Bank are cristians and concider them self to be true Cristians while others are wrong.
Therefore GOD exist.
Peace
2006-06-20 14:23:13 · answer #10 · answered by PicassoInActions 3 · 0⤊ 0⤋