The American Dream

March 26, 2009

President and CEO of Beyond Housing – Chris Krehmeyer – talks about what the American Dream means to him, and how he has seen it change ove the course of his life. Chris has a regular blog, which you can find by clicking here  and regularly posts to his twitter account

I was born on the last of 1961 and just about everyone in my generation and the generation before me had a notion that the American Dream is rooted in buying your own single family home. That was our aspiration. It was a symbol of our success and then the springboard for our children’s success. Like me most working class people look to our homes to be our nesteggs to help build our wealth. We have some pension put away – a lot less now than a year ago but our homes were viewed as our “ticket” to both retirement and helping our childen and grandchildren.

The shift that that has taken place in the last 10-15 years where technology allows us to be incredibly mobile and have the world in our pockets leads me to believe that the idea of the American Dream is beginning to change and will indeed change significantly in years to come. My 20 year old Nick has told me that as of now he has no interest in owning a single family home like the one he grew up in – “maybe a condo” he says. I told him of my recent article in the paper and he informed me politely that he does not know anyone who reads a newspaper. Who am I to pass judgment on this next generation – I do want to pose a question;

What will be the next American Dream? Please let me know what you think.


Twitter Feed from July 15 Program

July 16, 2008
July 16, 2008

Facing the Mortgage Crisis aired last night on KETC/Channel 9. We were “twittering” throughout the program with updates of the show. Not twittering along? You too can follow Channel 9 on Twitter at:

Here is what you missed.

July 15, 2008 from 7:00 p.m.- 8:00 p.m.

ketc It’s almost twitter time. We’re live in the studio for Facing the Mortgage Crisis. Follow our program that starts in 15 minutes.

ketc Facing the Mortgage Crisis is live now on Channel 9

ketc Ruth Ezell looks back at the cause for the mortgage crisis. There’s not just one cause, but several factors that have caused the crisis.

ketc Our panel of experts will help explain how the St. Louis area is affected by home foreclosures.

ketc Tonight’s panel of mortgage experts includes: Eric Madkins, Urban League; Linda Ingram, Beyond Housing; Malik Ahmed; Better Family Life; Dan Claggett, Legal Services of Eastern Missouri.

ketc Ruth Ezell asks: Is there a typical type of person that’s in trouble with their mortgage?

ketc Eric Madkins explains that the mortgage crisis affects all types of people.

ketc Dan Claggett explains that the foreclosure process in Missouri is quite different from that in Illinois.

ketc Foreclosure in Illinois: A minimum of 8 to 9 months

ketc Malik Ahmed explains four common mistakes homeowners make: 1. They don’t read the important documents. 2. They don’t consult the right people.

ketc 3. They don’t respond to information the lender is telling them. 4. They don’t seek out help that’s available.

ketc Linda Ingram explains the process of foreclosure which begins with a client in-take form.

ketc Linda Ingram says that if you’ve received a letter regarding your mortgage from an attorney, you must act. The situation is serious.

ketc Eric Madkins says that the Urban League offers mortgage resources for area families.

ketc Ruth explains three different types of foreclosure rescue scams:

ketc 1. Lease-back or repurchase scams 2. Refinance Fraud 3. Bankruptcy Schemes

ketc Malik Ahmed says that you need to find a credible resource to avoid mortgage scams.

ketc Coming up next: questions from the audience

ketc Elliot asks: If you have an adjustable rate and your payment goes up to where you can’t pay it, can you work with your lender?

ketc Linda Ingram says that lenders will work with you and your adjustable rate. All you have to do is ask them for help.

ketc Maureen from Kirkwood recently lost her house to foreclosure. She wants to know if there is any hope of getting her home back.

ketc Dan Claggett replies that the options for Maureen are limited but there might be a way to get her home back.

ketc Malik Ahmed says that there have been home equity scams happening nationwide.

ketc Linda Ingram recommends not to add any other debt onto your home. Leave debt for car loans and credit cards, for example, separate.

ketc Meredith asks: Is there a difference in the crisis between the urban and rural areas of St. Louis?

ketc Malik replies that the urban area has been hit harder than the suburbs because of a higher population of low-income families.

ketc Terry asks: What are the ways that other non-profit agencies can help with the crisis?

ketc Malik replies that all organizations and resources that would like to help with the crisis are encouraged to work together.

ketc Betty asks: Are reverse mortgages a good idea for seniors?

ketc Eric Madkins recommends for seniors to seek help from credible mortgage counselors.

ketc Malik Ahmed says that seniors are the most vulnerable for mortgage scams.

ketc Don’t forget: We’re continuing this conversation on after the show.

ketc Thanks for twittering along tonight.

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