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How to rebuild after the housing crisis

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    Fox News legal analyst Bob Massi weighs in

  • Duration 3:59
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So many Americans have been hit with what we're calling -- triple whammy the banking crisis the foreclosure crisis and -- debt crisis but.

You can turn around and rebuild your future just ask Fox News legal analyst Bob -- might you -- Good morning Gretchen you always see the silver lining at least you tried to Heidi see this silver lining in this latest AP wire crossing about for -- data apparently.

Home auction notices and homes receiving deep fault.

Rose 12% from April and increased 16% vs may last year what does that mean.

Well what has happened.

As we covered in the last year and a half -- more all the robo signing problems all the deficiencies of foreclosure some of the illegal foreclosures.

They're starting to get their affairs in order.

So the lenders -- been seen on inventory because of all the different things that they know we're done illegally and otherwise.

They're now are gearing back up to take their homes back so that's basically where the statistics are going there's also other factors but that's the primary things they've.

Recognize that they did things that they shouldn't have done they've been sanctioned port 25 billion dollar settlement they came -- back in March.

And now they're gearing back up in the actually part about this is.

Remember it cost lenders quite a bit of money for clothes and so they're gonna have to maintain these properties but.

Homeowners are going to be faced with losing more homes because they're gearing back up to foreclose on properties.

So right so we had a triple whammy -- alluded to the for closure the BSE crisis the now -- debt crisis so what questions should we be asking ourselves to begin to try to.

-- -- -- -- -- -- You know in in the rebuilding our our dreams from the shattered dreams you know one of the things I want.

Our viewers to understand it's -- try to put things in perspective.

It's been very tough times in America we've in the last three to have four years.

But let's remember god willing if we're healthy and the kids are healthy.

Then that's the most important thing in our lives we can rebuild and remember you are the home the family is the home.

I it's a house we can rebuild from that and one of the things I want to stress to our viewers that we're gonna be talking about in weeks to come.

Other areas that affect us from the real estate crisis but how to sort of put these pieces of the puzzle.

Back together and god willing will be able to show them some some good tips in the future to help them.

All right so if people are out there and they're looking for this kind of guidance.

To set the path for recovery where they go home and.

You know Gretchen more than ever before.

Just like -- family doctor if you will.

People really need more professional advice -- ever before I cannot stress to our viewers enough.

Find a lawyer.

That is competent that's live long enough to go through crisis in their life and seeing things and if nothing else just go talk to professionals.

To try to help.

Put their affairs in order what are the things that they need to do.

And that at least some of the things we're talking about it -- your dreams he just some of the stepping stones to start rebuilding but they have -- competent.

Professional.

That could sit down -- okay.

This is what's happened you had the file bankruptcy you do have this credit card that you did lose your house you had a short so OK guys.

This is what we're going to do it's inexpensive.

To do these type of things with a professional now.

Because of the fact that you could start rebuilding you don't have to spend a lot of money in a lawyer to be able to get this type of device that can't urge our viewers enough.

To find somebody capable in your area to help you with that.

All right Bob great advice and we hope we can help a bunch of folks.

Thanks so much hope to thank you Gretchen and even email Bob your questions by logging onto our website content and content might do is clicker -- -- bigger slicker quicker on the shattered.

Dreams.

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