03/07/2024
The Ides of March, which translates to "Idus Martias" in Latin, refers to the middle of the month of March. In ancient Rome, this term was commonly used to denote specific dates and points in time throughout the year.
The Ides of March, is March 15th
The Ides of March held particular significance as it was used to determine when the full moon would appear for the first time in the year and was also an essential religious date during pre-Christian Rome. Despite its dark associations with Julius Caesar's assassination, the Ides of March has a deep historical and cultural significance in the Roman calendar.
As we appoach the 2068th anniversary of the day Brutus ended Caesar's party, [in 44 BC], there appears to be significant, and conflicting economic signals in the U.S. economy that may be an ominous sign of of another "stabbing pain" for the economy.
While the stock market is apparently roaring (as this is being written 3/3/2024), this has not really translated into growth in Higher paying jobs. Sure, there are plenty of low paying customer service positions and the like, but thats not enough income to suport the outstanding mortgage loan /student loan debt.
Additionally, Grocery prices have skyrocketed. Axios spoke about this in a January 13, 2024 article, A $126 grocery tab that explains the vibes paradox
And Credit Card debt has hit an all time high, as reported by NBC, Credit card debt hits a ‘staggering’ $1.13 trillion. Here’s why so many Americans are under pressure
Further, there is a pending Commerical Real Estate loan collapse of hostorical proportions, and its effect on the rest of the economy is uncertain, as discussed in a February 7, 2024 article in the New York Times, The Real Estate Crisis Looming Over Banks
Interest rates also spiked during 2023, which has eased somewhat, but given the above economic factors may return with an avengence. That means individuals with adjustable rate mortgages face [or are currently facing] a potential monthly payment shock.
I have also experienced a flood of inquiries where long dormant second mortgages suddenly springing back to life [as they have been purchased by debt buyers]. Worse these second nortgages threaten (and in some case go through with ) foreclosure. The second mortgage holder executes an agreement with the first mortgage to subordinate, then the second mortgage holder forecloses takes its cut, provides whats left to the First mortgage holder, and if anything is left after all costs and fees, the rest of the foreclosure sale proceeds are (supposed) to be returned to the borrower. The foreclosing entity is also required to provide the borrower an "accounting" as to how the entirety of the proceedswere dispursed.
If you are behind on your first or second mortgage, DON'T Wait! Be proactive!, Contact your "lender" (servicer) to see what options are available. If you find that you are getting the run around, or not getting anywhere, contact an attorney IMMEDIATELY before the process goes too far down the road.
There may be things that can be done on a professional level to "nudge" the lender/servicer into working with you to come to a "non-judicial" resolution of the issue.
Of course, we are also very well versed and experienced in representing individuals in litigated matters as well as appeals of those matters.
Remember DON'T WAIT! If your mortgage payment has increased to a level that is untenable, and/or you are falling behind on payments, first contact the servicer to explain your situation. If that does not seem to be working, DO NOT let them string you along, while intentionally placing you in position to be foreclosed upon. Keep in mind that the entity you are dealing with most likely does not OWN the loan, and stands to make money if the house forecloses.
Don't end up like Caesar onthe Ides of March
We are always here to help. With over 15 years experience as this being our primary practice area, we may be able to assist you in keeping your home,
Take care and be safe
Glenn F. Russell Jr.
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The assassination of Julius Caesar, a significant Roman general, is depicted in various works of literature, plays, and movies. This event is regarded as a pivotal moment in Roman history, and its portrayal has increased the enduring interest in the Ides of March.
