Our nation today is spoiled by instant gratification. Loans and the borrowing system have given rise to the idea that patience is no longer a virtue and that saving is no longer necessary. Material wealth is increasing, as is the idea of ​​false wealth. People got so pumped up about it; so they take on more than they can afford. This is what happened with the recent wave of foreclosures in our country. Loans led everyone to believe they could own a home and left out the practice of saving. This is where the start of the solution lies. The citizens of our country must relearn the value of patience, which is why we must learn to start saving again, because although loans can pave the way to homeownership, they are not valued as much as those who saved for a house. as "the legal process by which an owner's interest in a property is terminated, usually due to default" and it "usually involves a forced sale of the property at public auction, with the proceeds applied to the mortgage debt ". (Foreclosure 1). Ultimately, it starts when a home owner is unable to make the required mortgage payments each month, causing them to default. The borrower receives a formal notice which warns him that legal action will soon be taken. In most cases, you don't know what to do, and the only "solution" available may be to walk away or let the bank repossess the house. Foreclosures peaked over the summer, with “one in every 355 American homes” filed for foreclosure in July. Also in July, “for the 31st consecutive month, Nevada recorded the highest rate of foreclosures.” California, Arizona, Florida and Nevada represent...... middle of paper...... things may not immediately and completely end our current foreclosure problem. Hopefully this is the start of a solution to the ongoing problem of borrowing money, getting to the heart of the problem, in my opinion. Americans have always been known for their resilience. If only patience could be exercised during this time of economic crisis, it could very well lead to a long-term solution. By acquiring profitable real estate, they will be able to relieve themselves of future pain. Because most Americans can't help the state economically, they can help themselves by preparing for the future and all that it may bring. Works CitedForeclosure “foreclosure” Investorwords.com. InvestorWords.com, Web. December 30, 2009RealtyTrac Staff. “Foreclosure activity in the United States: 7% in July. » RealtyTrac.com. RealtyTrac, August 12, 2009. Web. Dec. 30 2009.