Creating Up The Equation Of The American Dream

This is exactly what I thought. Since our house was so large, we couldn’t pay rent for a couple of months. Eventually, our lawyer, Richard, came to our residence and told us we are getting out house taken away from us, assuming that was what “foreclosed upon” ment, and the way mother’s face looked like crinkled up tin foil. The next few months went by slowly, we packed our clothes and our closest belongings and set out on foot. Eventually, we made a nice little house-hut and began growing our own food.

I often used to watch a show called “Extreme Makeover” where a team of builders would come to a neighborhood, build a need worthy family a beautiful new home, and then just give it to them. “Wow! What a lucky family,” I would say. “How fortunate.” However, as time went by, that same family would be in the news again. Why? The house was in foreclosure. The people had gone to the bank and taken out a mortgage against the home, then spent all the money they got for it on other things.

Wells Fargo and other banks lend money to customers who wish to purchase or refinance homes. Once the transaction is complete, the customer owns the home, but the banks hold a lien position on the property’s title. If customers default on their mortgage payments, the banks begin the foreclosure process on the homes. When the foreclosure process is complete, the banks attempt to sell the homes at auction. If the banks are unable to sell the properties at auction, the homes are now bank-owned properties. Essentially,

The economic crisis that hit the country took many jobs or people had their hours cut. With this situation happening, many people were finding themselves short on their mortgage payments and needing to go into foreclosure or having a short sale on their homes. Either option the homeowner chose or had chosen for them, they found themselves with poor credit and no way to become homeowners again. However, most wait times before was a minimum of two years up to seven years before that previous owner could be eligible for traditional loans.

Owning that little home on the corner with the white picket fence and big oak tree in the front yard has always been the American dream, but for some unfortunate home owners hit by the recession and housing crisis several years ago, it now seemed more like a nightmare. Imagine, after years of hard work, finally having your very own home only to have it ripped out from under you through foreclosure or short sale. This very scenario happened to countless thousands in towns across the country.

Foreclosure has become an outbreak affecting the entire United States of America. Realtytrac just reported in the month of April 2011 that one in every 593 housing units received a foreclosure filing. (N1) That statistic is for just one month! Some states such as Arizona, California, Florida, Michigan and Nevada continue to be plagued with an influx of homes falling victim to foreclosure or some other form of default. Each home that is a casualty to a foreclosure, short sale or even bankruptcy was collateral for the lender holding the promissory note. The consequences tend to come at a cost for the lender selling the property but a deal for the buying investor. The costs incurred and the losses experienced by the

The alcohol prohibition also known, as the “noble experiment” was a time when the citizens of the United States were tested of their sanity, loyalty, and respect of the law and government. On January 16, 1920 alcohol was banned from the nation we live in today and all purchase and consumption of liquor was illegal. In the beginning of the Prohibition era the public had a general acceptance and by 1933 when the Prohibition ended the public was annoyed with the law, the law enforcers, and the government. The banning of alcohol throughout the nation didn’t just happen over night. For many years, dating back into the 1800’s, people were creating groups that were against alcohol.

Foreclosures happened often and left families suffering. The process for banks to get back their money from borrowers who cannot pay their loans is called foreclosures. Farmers had to take out loans to buy land and machinery. “Merle couldn’t pay off his loan, so the bank sold his farm at an auction. But Merle was luckier than most. He kept farming- only now he was a renter rather than an owner of the farm” (Ganzel). This quote shows that this was a real life situation for

What is the American Dream? Is it home ownership, gaining fame or wealth, having a great family or is it gaining a peace of mind? Many people have different versions of what the American Dream is, some people believe the dream is lost, and some people are right in the middle and still believe the American Dream is still alive. “The American Dream” by Brandon King debates about what the true state is left in the American Dream now. Throughout the essay, King asks if the American Dream is dead, alive, on hold or just changing due to economic hardship. King believes that the American Dream is still alive even though there are people who believe it's not, and is defined today as the ability to work hard, plan for the forthcoming and have a

That dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement.”(quoted in “In Search of the American Dream”) For some, Truslow Adam’s definition of the American Dream leaves out the reality of how one’s socioeconomic status, on average, determines one’s wealth in American society. History shows that people born without certain privileges can’t ascend the figurative ladder to success with ease like their counterparts. Among these privileges were generational wealth and being White. A time when this was most evident was the 1920s: a time of mass spending, lavish lifestyles, and materialistic attitudes. Literary works like “In Search of the American Dream” by Jonas Clark, The Great Gatsby, by F. Scott Fitzgerald, and “One Christmas Eve” by Langston Hughes, show how the roaring culture of the 1920s caused an economic boom which widened the gap between the rich and the middle class, making it even more difficult for the majority of Americans to attain a sense of social and financial security. By the 1920s, the American Dream begins to lose its inclusive message and transform into an exclusive one in where one’s socioeconomic status mainly determines if one attains the Dream.

The American Dream was a well thought idea during the creation of the Declaration of Independence; in fact, the original belief of the American Dream was that all Americans could pursue “life, liberty, and the pursuit of happiness” (McQuade and Atwan). Furthermore, today the American Dream is an ideal thought to the overall strive for success. According to Kimberly Amadeo, a well-known author, she elaborated in her article What is the American Dream Today “… a focus on more of what really matters, such as creating a meaningful life, contributing to community and society, valuing nature, and spending time with friends and family” (Kimberly Amadeo). Creating the American Dream, controlling decisions, and building a life that can carry out success

The philosophies of Henry David Thoreau and Ralph Waldo Emerson would work well in a society comprised only of highly intellectual, healthy individuals who were willing put forth the effort needed to thoroughly examine themselves and formulate their own opinions about every issue pertaining to them. Emerson said that all members of society should think for themselves and formulate their own opinions rather than conforming to a popular belief. Thoreau said that the best government was no government, and that people should always do what was just. A society that functioned under the ideals of Emerson and Thoreau would have no problems. No money would be

The desire for home ownership is something embedded in our DNA. Claiming property and owning a house is a critical part of the “American Dream.” Home ownership represents more than just a place to rest your head at night. Your home is the environment that serves as a setting for your journey through life. It’s the place of your children’s first steps, family birthdays, barbeques, amongst many other significant events. Your home is the backdrop that describes you and your family. Although many American’s were financially hurt by the trillions lost in the home equity market during the housing bubble, there is and will always be a desire to own a home. The most vital part is that American’s who lost their homes during the crash, learn from their past, so that they do not repeat a foreclosure.

Fitzgerald demonstrates flashback through Jay Gatsby by associating him to self-identity and the American dream. The American Dream is known as a personal happiness and comforted by material things. Gatsby’s goal was to gain respect, to have a known reputation of wealth. He filled his days with big festive parties. Gatsby’s identity was once hidden, in his young days Gatsby did not know what he wanted to accomplish. When he was a teen he met a man named Dan Cody. He made Gatsby the man he became; he told him how to dress, and how to approach people. He taught Gatsby everything that he knew. Gatsby wasn’t looking to have a good time; he was looking for his true love, Daisy Buchanan. Gatsby dream would soon turn into a nightmare.

Analysis: But sometimes buying a house isn’t the best choice. It’s a long-term commitment that requires the homeowner to have a stable and secure job. If you default on your mortgage, for example being late on your payments or even missing payments the mortgage lender can take your home away. Then the lender can sell your home resulting as a foreclosure. Foreclosure also affects your credit making it harder or almost impossible to purchase a house in the future.