Archive for Money
Swearing to our Hurt
Posted by: | CommentsI so promise to get back to the white guys and the NBA, but I came across another article in the New York Times concerning the trend of homeowners walking away from their homes and mortgages. If you remember, I linked to an article a bit back about the same thing.
One of the things I mentioned regarding the other article was the minimal attention paid to the fact that people are failing to keep their word. The same holds true for this article, but the author is a bit clearer about the problem of banks looking to maximize their profit without seeking the good of those who borrow from them.
It seems that because many banks are not willing (or at least do not appear willing) to renegotiate the terms of their agreement with the borrower, many people choose to walk away. Though I agree that banks should do a better job seeking a win/win situation, the folks walking away from their homes and mortgages are still in the wrong for doing so (especially the folks who can afford the payments). They still have a contractual obligation to pay up. And the reality is that they are walking away simply because it seems financially advantageous for them to do so. They are only thinking about themselves.
A verse from Scripture comes to mind. I can’t remember where it is (maybe Proverbs), but it says something about a righteous man ‘swearing to his own hurt.’ That is, keeping his word even if it leads to greater difficulty for himself.
We are desperate for more people who believe in such a thing. In the banks and in the homes. Among lenders and borrowers. It’s not overstating the case to say that for the good of the whole world, we should let our ‘yes’ be yes and our ‘no’, no. Even or especially when it hurts.
Pay or Walk Away?
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Yesterday, I came across this article in the Wall Street Journal. It reports a growing trend in some areas of the country where home owners simply walk away from their loans even though they can afford the payments. Walk away, meaning, they just stop paying their loan and take whatever hit comes to their credit score, etc. Apparently, in some States, your mortgage company cannot pursue your other assets if you choose this option. Usually, people do so because their homes have drastically dropped in value.
The problem, however, is that there are only a few lines even hinting to the fact that if you simply ‘walk away’ from your loan, you are failing to uphold your end of a signed contract. I have been in countries (and in a business more or less) where contracts are often considered little more than a framework for the deal. Somewhat optional. And the effects of such a mindset are disastrous. I am very concerned about what will happen to our country if more and more people begin to adopt the same attitude to their agreements.
Can you imagine living in a world where a handshake or a simple ‘yes’ was enough to seal an agreement? Where both parties had absolute confidence that the man or woman shaking their hand or saying that ‘yes’ would uphold their end of the agreement? What a great place to live!
Well, this is how Jesus calls His followers to live. ”Let your ‘Yes’ be yes, and your ‘No’ no,” He said. And the beauty of it is that someday (at least according to the Bible), it will be exactly like that. On the New Earth, everyone will keep their word perfectly and completely. No one will be walking away. I can’t wait for that day. But until then, we are wise to uphold our end of an agreement, no matter how difficult it may be.
Positive Discomfort
Posted by: | CommentsIf you are even remotely alive, you cannot read the Bible honestly without getting a bit uncomfortable. Here’s an example:
And [Jesus] sat down opposite the treasure and watched the people putting money into the offering box. Many rich people put in large sums. And a poor widow came and put in two small copper coins, which make a penny. And he called his disciples to him and said to them, ‘Truly, I say to you, this poor widow has put in more than all those who are contributing to the offering box. For they all contributed out of their abundance, but she out of her poverty has put in everything she had, all she had to live on.’
It doesn’t matter what socio-economic class you find yourself in, these words are bound to make you uncomfortable (if you take them for real). For it shows you God’s perspective on our giving, and encourages a sort of riskiness that is very uncomfortable to personally consider (at least for me). And so it is with almost anything Jesus has to say about money…or anything else for that matter. The Sermon on the Mount (Matthew 5-7) serves as ample evidence to support such a statement.
But in the end, this discomfort is good for us, provided we embrace it and allow it to lead us towards riskier and more God-centered waters. Just another reason to keep reading with the Bible and allowing God, through His Word, to deal with us.
