Steps To Prevent Foreclosure

The Obama administration is seeking to find ways to prevent foreclosures among homeowners who have lost their jobs.  The feeling is that these homeowners are unable to pay their mortgages through no fault of their own, so should not be penalized by losing their homes.  A noble, compassionate sentiment, to be sure.

What about me?  I don’t own a home.  I live in an apartment.  I am unemployed and unable to pay my rent.  Why isn’t there some sort of effort to help me keep my apartment?  My situation is exactly the same as a homeowner, insofar as being unemployed and unable to pay my monthly fees.  The only difference I can see is that I have zero equity in my apartment and derived no tax benefits from paying rent – unlike homeowners, who get all kinds of tax breaks.

Why are we apartment dwellers penalized for not being homeowners?

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