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Tuesday, October 14, 2008

Financial Crisis Causing Suicides

I heard many times of people jumping out of windows and killing themselves when the stock market crashed in 1929, but I had also heard that was not true. This time though with our current financial crisis suicide definitely is a reality.

People are committing suicide over losing their homes, mounting credit card debt, and no way to get out from under. A house wife in Massachusetts, who hid her overwhelming financial crisis from her husband, sent a note to the mortgage company stating "By the time you foreclose on my house, I'll be dead"

All across the country, authorities are urging people to get help. I once joked in an earlier blog about insurance companies having to pay for mental health treatments just like other medical treatments, as part of the $700 billion Bailout Bill, and saying we are all going to need help when this over, but this is really serious. People are actually killing themselves over the financial crisis.

There are so many sad stories:

-In L.A. a former money manager shot and killed his wife, three sons, and mother-in-law before killing himself


-A suicide note left by Karthik Rajaram said he was in financial trouble and contemplated just killing himself. But he decided to kill his entire family because he said it was more honorable.


-A woman shot herself in Tennessee as deputies went to evict her from her foreclosed home.


-A widow in Akron, Ohio who shot herself is recovering.


-A housewife after falling 3 1/2 years behind in payments had been intercepting letters from the mortgage company and shredding them before her husband saw them. She tried to refinance, but was declined.

In July, on the day the house was being auctioned, she faxed a note to the mortgage company. Then she walked outside, shot her three cats and herself.

Left on the table were notes with months of planning. She picked out her funeral home, laid out the insurance policy and left a note saying, "pay off the house with the insurance money."

"She put in her suicide note that it got overwhelming for her," said her husband, John Balderrama. "Apparently she didn't have anyone to talk to. She didn't come to me. I don't know why. There's gotta be some help out there for people that are hurting. (something better) than to see somebody lose a life over a stupid house."

There is help out there. It is never worth killing yourself. You never know what will happen. The widow who shot herself as I mentioned earlier...A congressman told Addie Polk's story on the House floor before lawmakers voted to approve a $700 billion financial rescue package. Fannie Mae dropped the foreclosure, forgave her mortgage and said she could remain in the home.

In another case Pamela Ross and her husband were faced with foreclosure, as deputies served the eviction notice, she shot herself in the chest. This case is tragic because the couple had been granted an extra 10 days to appeal.

If you are feeling this way or are contemplating this yourself please get help. About six months ago my wife and I bought a new home. We had decided to rent our old home and had renters in place. Right after we closed on our new home the renters backed out and wife wife was laid off from her job. I normally would be worried sick. Having to pay two mortgage on one salary. But we immediately found a new renter, who pays us months in advance, and in two weeks my wife found a new job with better pay and that she loves. You never know what the future holds. Better job offer? Win the lottery? Anything can happen. I recently read A New Earth just before this happened. Eckhart Tolle sites many times how a situation may not remain as bad as we think and everything will pass. Everything will and does pass just hang on until it does.

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