For Christmas, I received a card from the real estate agent my husband and I dealt with when we moved into our rental apartment. She had written on the card: "If you don't renew your lease, are you ready to buy a house?" While I applaud President Obama for taking action against the banks and big financial CEOs, we must not only oppose the big guns if we want to avoid another financial crisis. Everyone around us – from real estate agents to loan officers to banks to family to even news articles on the Internet – humans are constantly told that buying a home is the American dream. Even if we can find a real estate agent who can find us amazing homes, the reality is my husband and I know we can't afford it. Between property taxes, PMI insurance, earthquake and property insurance, HOA fees, property improvements, and the mortgage payment itself – we would be in debt before we even signed on the dotted line. The current mortgage crisis could have been avoided if the buyer had been well informed and if banks and real estate agents didn't worry about numbers and commissions. This could have been avoided if knowledge had been entrusted to citizens rather than people working in real estate agencies, banks and construction companies. I have outlined three things that the borrower, the investor and the bank should do. In order to take steps to avoid any additional foreclosure crises, knowledge must be placed in the hands of the borrower. About a month ago, my husband and I found a loft online that we had been looking at here and there for about six months. We calculated that we would need down payment assistance if we were to purchase this loft. This is...... middle of paper...... information on the different loan programs available and to find out which ones best suit their lifestyle before speaking to a bank. Additionally, banks and real estate agents need to learn that it's not just about the bottom line or putting a borrower into a loan program they aren't qualified for or barely qualified for in the first place. Bonuses based on how long the loan remains in default could be a new incentive for banks instead of worrying about how long it takes for a property to go from auction date to closing. receiver. Many future foreclosures can be avoided if certain precautions are taken. However, the foreclosures of 2008 and 2009 also caused businesses to fail and many people to lose their jobs. Unfortunately, if this trend continues, there will be nothing that can be done to prevent the foreclosure crisis from worsening and continuing in the years to come...