Bill Buckner and Foreclosures

May 18, 2015 | Foreclosure, Stuff you may not know

 

 

Last week the New York Times ran and article called The Psychology of Choking Under Pressure.   Now, I’m not a big proponent of the term ‘choking’ but I get why they used it in this article. It’s really about how people sense the ‘stakes’ they are working/playing for. 

The study the Times quotes reveals some pretty counter-intuitive findings:

It may be that those of us who don’t like losses also have an exaggerated fear of failure, so we regard that opportunity to win $100 not as a chance for gain but as an outsize opportunity to fail. Conversely, people more comfortable with loss might harbor a surprising intolerance for losing what they already have.

 

This is interesting stuff and I encourage you to check out the article. So, what does it have to do with foreclosures? Short answer – a lot. I’m pretty sure.

I’ve seen it all from my clients – anger, fear, utter desolation, out-of-body optimism, doom and gloom; outright resignation, and a lot more. A good, good chunk of my early work with a new client is explaining that it’s not over. There are options; there will be decisions that have to be made; it’s not necessarily an irreversible course to losing the house; even if it is, there are paths to ease or minimize the impact.

‘There will be more decisions’ as the process goes … perhaps I need to define, up front, what a ‘win’ would be in any given foreclosure defense. Then, as the story says,

. . . For now, the practical takeaway seems to be that you should figure out your tolerance for loss and frame high-pressure situations accordingly. You are likely to find it easier to avoid choking if you take into account your complicated relationship to winning.

Oh, and by the way, it wasn’t Buckner’s fault, Stanley wasn’t covering first anyway.

 

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I’ll talk to anyone who is currently behind on their mortgage, thinks they may not be able to afford their mortgage in the coming months, or is already in foreclosure. The earlier we talk, the more options you have.

… Sarah Poriss.

Sarah Poriss, Attorney at Law, LLC is the largest woman-owned foreclosure defense law firm in Connecticut, providing homeowners with quality legal counsel in foreclosure mediation and foreclosure defense.

Working at Consumer Law Group in Rocky Hill, Connecticut for four years, Sarah specialized in representing consumers facing financial crises like debt collection harassment and identity theft. Upon opening her own office, she expanded her focus to defending consumers sued by credit card companies and representing homeowners in foreclosure.

Sarah has elevated her practice by exclusively representing clients with money issues. She played a crucial role in drafting foreclosure mediation rules as a member of Connecticut’s Bench-Bar Foreclosure Committee for seven years.

Additionally, she contributed to the Bench-Bar Small Claims Committee to enhance clarity in small claims proceedings and ensure debt collectors provide substantial evidence to win cases.

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