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Anonymous Posted 17 years ago
Letter Writing
Am I on the right track?
I have just completed my very first assigmnet for English 101 and I hope that I have completed it properly. Being it has been 23 years since I was last in school this is all new to me.
The assignment is to write a 1 to 2 page essay double spaced that poses a question about a problem that perplexes you. Besides explaining your question and providing needed background information, you should help readers see (1) why the question is problematic, why is it a geniune problem wtih no easy right answer and (2) why the question is significant or worth pursuing, that is what benefit will come from solving it. Rememebr your task here to pose the question, not answer it.
Below is the essay I have written. I am not asking for corrections to be made as I need to learn the style of my teacher and what corrections she will make. I am asking am I on the right track have I completed he assigment as needed? Thanks in advance to all that reply.
The US Government is in the process of bailing out the major financial institutions of with proposed future assistance to homeowners. Doing nothing at this point would hurt the failing economy and therefore I understand the need, but is the Government helping the self inflicted? Should these financial institutions and borrowers be receiving Government assistance or should they be forced to suffer the consequences of there own actions?
It was the decision of these institutions to make loans and mortgages to individuals with less than perfect credit, blemishes in their payment histories and previous bankruptcies. When an individual has proven that they do not have the ability or the desire to adhere to the terms of credit that has already been extended to them and yet these institutions still chose to extend new credit, which is to blame, the financial institution or the borrower? At the time the loan/mortgage was extended the borrower knew of the discrepancies with their credit history and was aware of why they were receiving a sub-prime loan. Not only is the borrower aware of the credit discrepancies they are also knowledgeable of that fact if they were over extending themselves and actually obtaining a loan/mortgage that would be stretching their finances to pay monthly.
I understand first hand the need to obtain a sub prime home loan as I previously held one. Due to a blemish on my credit report I was given the option to obtain a sub prime home loan. Upon acceptance of this loan I was fully aware that I must refinance this loan within the time allotted or the interest rate would increase to a much higher amount. I knew that if the rate should adjust that I would have a very difficult time in making the monthly payment so I began immediately to prepare for refinancing. I focused on clearing the blemish and increasing my credit score so I would be able to refinance. Had I chosen not to make any corrections and to continue with the financial history I had, would it then be the Governments requirement to step in an assist or should I be held accountable?
Should the Government be stepping in and helping? The financial institutions began making the sub prime loans with the knowledge that they were high risk and the knowledge that the Government would back them should they failed. The borrowers accepted these loans with the knowledge that changes must occur with their finances so they may refinance or there would be circumstances to be upheld. So I ask who is to blame, if the answer is the financial institutions and the borrowers, should the Government be stepping in? Should the financial institutions and borrowers not be held accountable for their own actions?
The assignment is to write a 1 to 2 page essay double spaced that poses a question about a problem that perplexes you. Besides explaining your question and providing needed background information, you should help readers see (1) why the question is problematic, why is it a geniune problem wtih no easy right answer and (2) why the question is significant or worth pursuing, that is what benefit will come from solving it. Rememebr your task here to pose the question, not answer it.
Below is the essay I have written. I am not asking for corrections to be made as I need to learn the style of my teacher and what corrections she will make. I am asking am I on the right track have I completed he assigment as needed? Thanks in advance to all that reply.
The US Government is in the process of bailing out the major financial institutions of with proposed future assistance to homeowners. Doing nothing at this point would hurt the failing economy and therefore I understand the need, but is the Government helping the self inflicted? Should these financial institutions and borrowers be receiving Government assistance or should they be forced to suffer the consequences of there own actions?
It was the decision of these institutions to make loans and mortgages to individuals with less than perfect credit, blemishes in their payment histories and previous bankruptcies. When an individual has proven that they do not have the ability or the desire to adhere to the terms of credit that has already been extended to them and yet these institutions still chose to extend new credit, which is to blame, the financial institution or the borrower? At the time the loan/mortgage was extended the borrower knew of the discrepancies with their credit history and was aware of why they were receiving a sub-prime loan. Not only is the borrower aware of the credit discrepancies they are also knowledgeable of that fact if they were over extending themselves and actually obtaining a loan/mortgage that would be stretching their finances to pay monthly.
I understand first hand the need to obtain a sub prime home loan as I previously held one. Due to a blemish on my credit report I was given the option to obtain a sub prime home loan. Upon acceptance of this loan I was fully aware that I must refinance this loan within the time allotted or the interest rate would increase to a much higher amount. I knew that if the rate should adjust that I would have a very difficult time in making the monthly payment so I began immediately to prepare for refinancing. I focused on clearing the blemish and increasing my credit score so I would be able to refinance. Had I chosen not to make any corrections and to continue with the financial history I had, would it then be the Governments requirement to step in an assist or should I be held accountable?
Should the Government be stepping in and helping? The financial institutions began making the sub prime loans with the knowledge that they were high risk and the knowledge that the Government would back them should they failed. The borrowers accepted these loans with the knowledge that changes must occur with their finances so they may refinance or there would be circumstances to be upheld. So I ask who is to blame, if the answer is the financial institutions and the borrowers, should the Government be stepping in? Should the financial institutions and borrowers not be held accountable for their own actions?
Top answer
Yes, I think you are on the right track, but you have not explained at all why this situation is such a dire problem. I would make the points that forclosures hurt the neighborhoods by having empty homes. The deteriorate and become eyesores, and targets for arson.
- Yes, I think you are on the right track, but you have not explained at all why this situation is such a dire problem.
- I would make the points that forclosures hurt the neighborhoods by having empty homes.
- The deteriorate and become eyesores, and targets for arson.
- Lots of foreclosed homes are on the market for sale.
- Banks loaded with bad debt (because the loans are not being paid) do not have resources to make loans to deserving people.
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1 Answers
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Yes, I think you are on the right track, but you have not explained at all why this situation is such a dire problem.
I would make the points that forclosures hurt the neighborhoods by having empty homes. The deteriorate and become eyesores, and targets for arson. Lots of foreclosed homes are on the market for sale. Banks loaded with bad debt (because the loans are not being paid) do not hav
I would make the points that forclosures hurt the neighborhoods by having empty homes. The deteriorate and become eyesores, and targets for arson. Lots of foreclosed homes are on the market for sale. Banks loaded with bad debt (because the loans are not being paid) do not hav
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