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APA
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Business & Marketing
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English (U.S.)
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Financial Services and Trading Institutions Problems Essay Sample

Coursework Instructions:

Financial Services & Trading Institutions Problems
Please watch the following video first
" https://www(dot)youtube(dot)com/watch?v=VRQ5RByMvS8"
Then answer the questions:
1. Please give your opinion on the 60 Minutes segment: "Just Walk Away", the video describing home owners who are walking away from their financial responsibilities because they no longer wish to pay their mortgages.
2. Do you think the banks did the right thing not modifying the mortgage?
3. The homeowners signed a contract with the bank. Doesn’t that mean anything?
4. Of the people Walking Away, 1 in 5 could pay their mortgage.
5. Regarding the bankruptcy law: is seven (7) years enough time for this type of bankruptcy to stay on your record?
6. Should the consequences be more, the same, less, or something different?
NEED TO SUMBIT ON THE Turnitin. Will check similarity.
Submission will be sent to Turnitin to be electronically reviewed for plagiarism.
Make sure you did your own work, use your own language to answer all the questions.

Coursework Sample Content Preview:

Financial Services and Trading Institutions Problems (Video)
Name
Institution Affiliation
Date
Financial Services and Trading Institutions Problems (Video)
1 Personal Opinion
Based on the personal opinion regarding the homeowners who are walking away from payment of mortgages, it is the poorest financial decision one can ever think of. However, making such decisions was based on various factors. One of the factors which drove such individuals towards walking away from their home mortgages is the economic pressure and refusal of banks for new deals. It is identified that due to the economic crisis, more than a million individuals were not capable of paying their mortgages, an essential factor that could not be resolved in any manner other than recovering the homes. Regardless of signing the contracts, there was no other option that could help other than walking away. Therefore, it is essential to understand that economic pressure and financial stability play a key role in paying for home mortgages. It is recommendable that to avoid such financial services and trading problems; it is vital to ensure proper financial planning and backups.
2 Modifying the mortgages
Generally, the bank made a poor decision not to modify the mortgages. Since the members were faced with an economic crisis, the only option was to modify these mortgages to limit a large population from being rendered to homelessness issues. As a trading institution, it is always recommendable to take into account the interests of the client. This was not evident from the banks. Based on personal opinion, the bank would have specific techniques in modifying the mortgages. Some of the suitable options could be, change of the fixed-rate mortgage to an adjustable-rate, the extension of the terms, and temporarily reducing the interests (Bhutta & Ringo, 2017). The identified techniques would have helped the individuals to recover and adjust their payment terms. Therefore, this action of not modifying during the crisis time was self-oriented and did not consider the interests of the ci...
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