Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Feedback - Essay Example

Comments (0) Cite this document
Have you ever pictured being able to fulfill the American Dream? For many decades the American dream of being prosperous and having a home was a reality for many people, but unfortunately we are experiencing a severe economic downturn that…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.1% of users find it useful
Read TextPreview

Extract of sample "Feedback"

THIS IS YOUR JOB. Foreclosure Crisis: The impact to the American Dream and United s Economy Diz CollegeForeclosure Crisis: The impact to the American Dream and United States Economy
Have you ever imagined owning a home? Have you ever pictured being able to fulfill the American Dream? For many decades the American dream of being prosperous and having a home was a reality for many people, but unfortunately we are experiencing a severe economic downturn that is considered one of the worst crises in last century that may lead this dream to an end. In fact, according to Tatom (2009), it is one of the biggest financial problems we have confronted since the great depression. Americans were not prepared for such catastrophe, and they never expected being evacuated of their properties and sometimes disrupted from their families because of not keeping up with monthly payments. In a speech provided by the White House Web site (2009) titled “Remarks by the president on the home mortgage crisis,” President Barak Obama highlighted how the mortgage phenomenon challenged the American dream and it frightened our nation’s financial system, the strength of our families and communities. President Obama (2009) said that, “its a crisis that strikes at the heart of the middle class: the homes in which we invest our savings and build our lives, raise our families and plant roots in our communities.” Millions of this country’s citizens ended up losing their jobs and are still at risk of losing their properties. The foreclosure crisis impacted the United States economy dramatically, and I strongly believe that one way to protect ourselves from foreclosures is to control the risk of our financial activities, and as homebuyers we should be well aware of what type of loans we can afford.
As homeowners it is essential to take responsibility and take proper actions when it comes down to correctly distributing the household’s budget. According to Petrovich (2008), usually one individual manages the books in the majority of our households, meaning taking charge for bills getting paid and supervising the finances. Moreover, Petrovich (2008) had written that the person in charge knows if the total income is enough to keep up with the expenses. It is easy to review your expenses increases versus the earnings you are bringing home. Are you considering in your monthly balance sheet costs like utility bills or simply groceries? Determining and examining your spending behaviors is crucial to be successful at managing your finances, and have a lifestyle that meets your budget (Petrovich, 2008).
But what do we know and why do we care about foreclosures? According Frame (2010), foreclosure can be defined as a legal process in which the lenders take possession of a mortgage property due to non payment for a certain period of time from the borrowers and this legal procedure can be different from state to state. Furthermore, Frame (2010), mentioned that this process is highly expensive not only to people borrowing the money and lenders, but the community in general. Some of consequences borrowers suffer from this are: moving costs, family separation, and problems getting credit loans later on. Creditors are faced with the problem of the deficit between the sales price and the stability of the mortgage and its costs. Frame (2010) described that the general impact to the society reflects properties being reduced in price and costs to the community such as increasing delinquency activity, particularly to vacant homes.
To explain the surge of foreclosures, Tatom (2009) had written that in the last quarter in 2006, this foreclosure problem was first noticeable. The foreclosure rate was pretty stable at about 1% in 2005 and early 2006, but it went up to 1.19% by mid 2006. By the last part of 2007, the rate had gone up to 2% (Tatom, 2009). Additionally supporting Tatom’s findings, Edmiston and Zalneraitis (2007), agreed with the fast rise of property foreclosures in America since 2006. They also mentioned the high percentages of properties going through the foreclosure process in the last part of 2007 as something significant compared to the year prior. All of this implied that increase of foreclosures wasn’t probably going to get better, in the contrary, it would most likely be worse (Edmiston and Zalneraitis, 2007). The chart below represents the percentage of loans in foreclosure process since 1990 until 2010. These statistics are reported by Tatom (2009) and Frame (2010) using data from Mortgage Bankers Association.
But not only The United States economy was affected severely due to the house market’s recession; the effects of this crash also had impacts all over the world (Freedman, 2010). Financial institutions around the planet were not successful and their government provided funds to help them subsist through the recession. People around the globe were deeply sunk into a collapse being job less and confronting adversity (Freedman, 2010). Moreover, banks had a fear about more losses, and this contributed to the lowered lending or stopped them from providing loans, which made it difficult for people to finance credit lines. Consumers reduced their spending because they were panicked about losing their job, and the deficiency of credit did not allow them to shop. Consequentially, stores and manufacturers had an income decrease because of these causes (Freedman, 2010). Further expanding on this view, Norberg (2009) wrote that with banks reducing their lines of credit, organizations, consumers and in some cases whole nations could not borrow capital to handle their spending, which led to companies’ failures, unemployment and huge money deficits.
President Barak Obama also pointed out some of the effects of this crash. Obama mentioned in his speech provided by the White House Web site (2009) that the impacts of this mortgage disaster echoed throughout our economy. He stated in this speech “Remarks by the president on the home mortgage crisis” that our nation’s business finance world is influenced by accessibility to credit, and this was damaged with the downfall of the house industry. He additionally mentioned how difficult became to afford buying a vehicle, paying for school tuition or businesses being able to have the necessary resources to grow and generate more jobs due to the lack of credit.
But what factors caused this foreclosure boom? Freedman (2010) said there are four key aspects that influenced the collapse and these causes have been responsible for other economic downturns in the past: “speculation, overuse of credit, banks engaging in risky behavior and lack of regulation and oversight by the government” (p.24). Who is really at fault for this disaster: borrowers or lenders? I personally believe there are some external factors that as homebuyers there is nothing we can do to prevent them. But on the other hand, we are responsible for our own use of money and how to handle our credit. Schwendimann (2007) had written that the American dream rapidly became a frightening wish because of the growth of foreclosures. He agreed in his scholarly journal’s article, The Mortgage Default Crisis: the American dream becomes a nightmare, that implementing stricter and rigorous lending policies and consciousness from homebuyers will push consumers to understand their chances of not being able to make loan payments outside of their budgets (Schwendimann, 2007).
Were people realistic about what type of mortgages they could afford when this crisis began? The answer to this is probably not, and borrowers were approved to get houses with adjustable rate mortgages (ARMs), in which the interest rates changes with time or depending on the Federal Reserve’s rates. Most first time buyers did not understand what an ARM was, and they signed contracts they had no idea what they meant. Banks provided loans to first time buyers with little or no down payment which at the end did not work the way they probably expected. According to Freedman (2010), adjustable rate mortgages attracted homebuyers due to the tremendous low interest and simple qualifying requirements. People were certain that the value of houses would keep on increasing and they could refinance the houses at a decreased rate or take some money out of the house to pay off the loan. However, this could only be real if they values persisted to rise (Freedman, 2010). People thought the future was always going to be prosperous and they could take advantage of the home appreciation to sell later on expecting a high return, but this obviously did not occur.
The interest rates started to go up in 2003 when the Federal Reserve decided to set new rates, which meant that for people with adjustable rates, the payments began to increase and homeowners began to struggle with monthly payments. In addition to this, buying a house was not as tempting to future buyers as it was, and home values started to decline (Freedman, 2010). When a home value decreases below what the owners owe on their mortgage, it creates a problem. Further supporting this view, according to Tatom (2009), a main factor that influenced this mortgage recession was the drop in the demand for housing and the decrease in home value. Subprime borrowers, who are people who are granted loans at a high interest because of their weakened credit history, were particularly impacted by the crisis. According to Tatom (2009), people with subprime loans were hoping home prices would continue to increase and they could anticipate a great amount of money out of the house by refinancing. High risk investors who purchased properties expecting to sell later with a superior money gain were equally impacted, but when the home values went down, they left the mortgages. Once the values started declining, people who did not have a positive equity, which means the difference between the market value and any unpaid mortgage balance, were also affected. They opted to walk out of the loans, especially if they had other housing options such as rentals (Tatom, 2009).
To conclude, many homeowners’ families were and will continue to be affected by this terrible foreclosure financial downturn that started in 2006, but borrowers need to control their own finances to be protected from future losses. Because of the severity of this crisis, it will take time to the United States economy to fully recover. There are different, out of our reach factors that played an important role aggravating the situation, but as homebuyers, one that we have control over is budgeting our finances and therefore we should be realistic on what we can afford. When this major catastrophe began, people were not fully aware and were not well informed of everything that needs to be acknowledged when it comes down to getting a home loan approved from a financial institution. And as with many aspects in life, I am certain that moderation is a key. People bought houses they could not afford without recognizing this will later put them in a critical financial situation. In addition to this, it is our own responsibility to be conscious on what type of price range we can actually pay and live the lifestyle within our household’s budget. Lastly, I believe that because what we have been through with this recession, people’s attitudes about accumulating debts and credit loans will dramatically change. We can only hope that people will now compare their earnings versus what they can actually afford extensively when signing up for a life-size loan.
Edmiston, K., & Zalneraitis, R. (2007). Rising foreclosures in the United States: a perfect storm. Enonomic review, federal reserve bank of Kansas City. 92(4), 115-145.
Frame, W. (2010). Estimating the effect of mortgage foreclosures on nearby property values: a critical review of the literature. Economic Review, Federal Reserve Bank of Atlanta, 95(3), 1-9.
Freedman, J. (2010). The U.S. economic crisis. New York, NY: The Rosen Group.
Norberg, J. (2009). Financial fiasco: how America’s infatuation with homeownership and easy money created the economic crisis. Washington, DC: Cato Institute
Petrovich. D. (2008). Fight foreclosure! how to cope with a mortgage you can’t pay, negotiate with your bank, and save your home. Hoboken, New Jersey: John Wiley & Sons
Schwendimann, H. (2007). The mortage default crisis: the American dream becomes a nightmare. Business Perspectives. 18(4), 22-25.
Tatom, J. (2009). The U.S foreclosure crisis: a two-pronged assault on the U.S economy. Economics, Management and Financial Markets, 4(2), 11-54.
U.S. White House. (2009, February 19). Remarks by the president on the home mortgage crisis. Retrieved from
peer review rubric
Above Expectations
Meets Expectations
Below Expectations
What is the argument being made? How can the writer add to the arguments significance to you as a reader?
The argument is, “to protect ourselves from foreclosures is to control the risk of our financial activities, and as homebuyers we should be well aware of what type of loans we can afford. “ be more specific about financial responsibility in times of crisis.
What is the thesis? Is it clearly stated or implied? How can the writer improve the thesis?
“The foreclosure crisis impacted the United States economy dramatically, and I strongly believe that one way to protect ourselves from foreclosures is to control the risk of our financial activities, and as homebuyers we should be well aware of what type of loans we can afford. “
be more direct by removing ‘I strongly believe’
Does the introduction capture your attention and give context to the essay? If so, why? If not, what would you like to see the writer do to improve the intro? Also, does the intro lead smoothly into the body of the paper? If not, what can the writer do to make the transition smoother?
It is functionally correct, but I would like to see more attention given to storytelling to bring the reader into the essay’s main argument
Does the body develop the thesis? Look at the use of evidence and explanation. Does the body "prove" the writers point of view? If so, how? If not, what does the writer need to do provide more development? Where are the gaps in logic?
The essay develops the understanding that the country is in a crisis, but doesn’t support the thesis by demonstrating HOW one should work to guard against this crisis
Does the objection reasonably explain an opposing point of view, and does the writer then work to undermine those opposing views? If so, how? If not, what does the writer need to do to tear down the opposing viewpoints?
No opposing viewpoints is discussed
Does the conclusion end with power and context? If so, why? If not, what would you like the writer the to improve the conclusion? Also, what can the writer do to add a sense of finality to the writing?
The conclusion is powerful but outside of the introduction it’s the only place that discusses how people should respond to the financial crisis
Overall, does the essay use theories of argument to forward the thesis? If so, how? If not, what can the writer do to implement those ideas?
Strong arguments are made regarding the reasons and impact of the financial crisis, but limited discussion is given to how people should respond
Is the paper organized in a thoughtful manner? If so, why does the organization work well? If not, what needs to be done?
Paper should have started with a discussion of foreclosures as not the fault of citizens, then argued that this perspective is wrong and that people need to be more vigilant in their spending
Are any quotes or paraphrases used? Are they integrated into the writing well? How? Why? Is there an explanation for why the sources are included?
Yes, they are integrated well and they appear strong and legitimate sources
Does the writer use a scholarly/professional writing style? If necessary, what can the writer do to strengthen the writing style and be more consistent?
Yes. However, practice makes perfect I think. Read More
Cite this document
  • APA
  • MLA
(“Feedback Essay Example | Topics and Well Written Essays - 250 words - 1”, n.d.)
Retrieved from
(Feedback Essay Example | Topics and Well Written Essays - 250 Words - 1)
“Feedback Essay Example | Topics and Well Written Essays - 250 Words - 1”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document



... their respective tasks, I draw comparison between the way I performed and the way they did. The strength of this approach is that students exactly know where their performance was not up to the mark and in which areas they did excellent work. “Comparing student work to a learning target is criterion-referencing, and it is the primary kind of comparison to use for good feedback” (Brookhart, 2013). The weakness of this approach is that every task is to be self-performed by the trainer first, which can be time-consuming, though it is an essential way of training. Praise sandwich is another way of giving feedback. Praise sandwich, as the name indicates, is the method in which the trainer informs the students about the positive aspects...
3 Pages(750 words)Essay

Periodic Feedback

... as well as India testing results and confirmed these results with DBA (Eranyian Guna). Also, leverage some technical knowledge by looking at the controls that have been sent to Oracle gate analysis team. 6. In company of Linda attended meeting with Deloitte team and the Internal Audit team to discuss the issues that have been identified by Oracle Analysis team (SOD conflicts). 7. Acquired a good technical knowledge on testing Oracle, Intranet and Eagle systems for the operating effectiveness of the automated controls. 8. After identification, updated issue logs every time and discussed issues that have been raised with the Internal Audit to remediate. 9. Provided a feedback for the new associate Irella Blackwood and reviewed her work...
2 Pages(500 words)Essay

Discussion feedback

... Discussion feedback Henry should not go for the offer because this action would be unethical in its essence. Firstly there is no sure shot guarantee that the mole in the company will provide them with a copy of the exact and original proposal. Secondly it is totally against to code of ethics to exploit the vulnerabilities of the company by going in the wrong way. Henry should work on his proposal and should make it so strong that all the chances of losing the proposal are minimized. If I were in Lisa’s place I would have explained the top hierarchy about the real situation in the company and would have asked for more time. Instead of wasting a million dollar deal it’s far more ethical and better than to take more time whether it costs...
2 Pages(500 words)Assignment

Discussion feedback

...Discussion 1a Technical Leader There are numerous disciplines in the area of applied science and technology. These areas contain endless opportunities for technical leadership. However, as a technical leader there comes a high degree of responsibility with a specific skill set and knowledge in a particular area. How would you define the function and responsibilities of technical leader? What KSAs (Knowledge, Skills and Abilities) must a technical leader possess as the SME (Subject Matter Expert) in a given discipline to lead a group or organization? Ans. Technical leaders are responsible to provide support in order to resolve any technical issues. They are directly responsible for meeting the development schedules according... 1a Technical...
2 Pages(500 words)Assignment

Assessing Patients Feedback On Receiving Herbal Medicine Treatment

... clinical satisfaction of better health care outcomes. If the above are not enough, it should be affirmed that the adaptation of the patient-centered system has proved to malpractice claims as well as the high clinical loyalty (Barnes, 2009, pg33). This is why, the feedbacks and the views of patients in regards to herbal introduction in the hospitals where staged. One thing that portrayed a positive result when patient-centeredness was practiced was that a revelation came about where; patients themselves perceived that their visit to a physician was a patient centered criterion (Bent, 2004, pg54). Patients here felt that they did understand that they had a considerable effort in developing treatment plans. Therefore, this forced them...
19 Pages(4750 words)Dissertation

Providing Feedback to the Community-based Care Transitions Program

... Providing Feedback to the Community-based Care Transitions Program It is definitely a problem when patients end up coming back for readmission, due to the same problem that they were there for the first time, in this case, heart problems. The Community-based Care Transitions Program (CCTP), which is under Section 3026 of the Affordable Care Act (ACA), seeks to improve how patients will transition from their hospital to another point of care, including how to manage their own care while at home (CMS, 2014). This is particularly true of those elderly patients who are covered by Medicare, which has incurred $26 billion for readmissions that could have been prevented. The CCTP is connected with the Partnership for Patients, whose focus...
2 Pages(500 words)Research Paper


... Teacher Feedback Doing the LearnSmart Modules is very helpful for us It helps us understand the lesson better and get better grades. It works like a review or a practice set not only to learn more about the topic but also to get better scores in online quizzes. It also helps understand the chapter more because it clarifies some topics which are not clear in the chapter. It is therefore very useful because it prepares me for online assignments and quizzes. Especially with the LearnSmart Modules which allows me to take it as many times as I wanted until I get the lessons right. Without it, our scores and understanding of the lessons may have been poor. It is also interesting to engage in and is not stressful to take knowing that I...
1 Pages(250 words)Assignment


... Feedback The implementation has the potential of working effectively. This is because Starbucks is a global company, whichhas the resources to ensure that it penetrates all markets and competes with existing businesses. Thus, tailoring technological innovation and business strategies in specific countries and regions will create an opportunity for the company to exploit these markets in an effective manner. However, such cannot occur effectively if the company does not have an alignment of its objectives and goals to its business activities. This demands that the company targets markets and allocates resources to ensure that it exploits such markets. Target marketing is a good opportunity for the company, which will allow in effective...
1 Pages(250 words)Essay

The Reaction of Faculty Staff to Resident`s Feedback on Their Teaching Performance

..., the research paper will be approached from a different methodological perspective and how this will affect the findings and conclusion will be explored. Abstract. The abstract is well drafted, and it has outlined the methods used and the main findings. The research would have more information present the research problem clearly. It is not clear from the abstract where the research problem. It has stated the aim of the research paper which is to increase understanding on how the reaction of faculty staff to resident`s feedback on their teaching performance. It would be in helpful to include a recommendation in this paper in order to know the next step of action...
8 Pages(2000 words)Essay


...Feedback Report al Affiliation) Feedback Report The answers posted by the were good responses to the questionsposed. The student managed to provide objective answers for all the questions. However, the student’s work has a few errors in grammar. Despite these errors, someone can understand the message that the student wanted to communicate. The student exhibited clarity in the language used in the explanations as well as clarity in the answering of the questions posed. From the responses given, the student exhibited the ability to reflect on the unit in question. The student also appears to have given thought to the answers provided in the reflection. The student offered a viable example of how businesspeople may affect the society...
1 Pages(250 words)Assignment

Give feedback

...FEEDBACK ON CVS AND PERSONAL MENTS There are several parts that really bring out the in the personal ment. First the author has motive and drive, he got in the field of Applied Behavioral Analysis therapy particularly to help children on the Autism Spectrum modulate. Secondly, he has passion for what he studied. He has been “interested in the variations and individualities of the human brain.’ He loves and cherishes what he studied. He also shares a personal story as to why he is so much interested in giving back to the community. He also at one point in time suffered from clinical depression and the community helped him. The revealing quote that the author featured is that he knows more how to help children and supervising children...
1 Pages(250 words)Article

Feedback on the Discussion

..., only few members provide their response. This proofs that they have limited concentration on the meeting. In providing feedback on the discussion, the speaker in the group should be more bold and passive while addressing the meeting. This would increase the concentration and participation of other group members. The group members, on the other hand, should concentrate on the meeting agenda and meeting coordinator. For instance, a members should not be allowed to touch their phones during the meeting. In addition, all members should be able to take part in the final vote. The lack of full corporation enables the public understand that the discussion may not be meaningful. Additionally, the body language displayed by the...
1 Pages(250 words)Assignment


...of the professional providing feedback Children and family worker Brief description of the student’s practice about which feedback is being provided Planting cress , scheme activity for children Date Comments on the student’s capability taking into account the level of the student. The descriptors below outline end-of-placement expectations of first and final placement students By the end of the first placement student social work should demonstrate effective use of knowledge, skills and commitment to core values in social work in a given setting in predominantly less complex situations, with supervision and support. They will have demonstrated capacity to work with people and situations where...
2 Pages(500 words)Essay

Delayed Auditory Feedback as a Means of Managing a Speech Dysfluency

Choral speech is a phenomenon in stuttering where two speakers produce the same material simultaneously. During the choral speech, all stuttering behaviors are absent. This may be due to a centrally based neural mechanism that pairs speech perception and production as interchangeable forms of action recognition and execution (Saltuklaroglu & Kalinowski, 2003).

Antistammering devices use similar electronically derived permutations of choral speech, which allows the user to hear their own voice with a slight time delay and/or a pitch shift, creating the illusion of another individual speaking at the same time (MPTAC, 2006).

Initial therapy is without the use of DAF, where the stutterer is trained to use a s...
7 Pages(1750 words)Term Paper

Impact of Feedback on Students Behaviour

One group of students verbalized aloud while solving problems during all sessions, the second group verbalized aloud during the first half of the training program (first three sessions) but not during the second half, and the third group did not verbalize. It was expected that overt verbalization during the first half of training would help students learn how to work subtraction problems in a strategic (algorithmic) fashion. To the extent that students could then shift this means of regulating their task performance to a covert level, we felt that continued verbalization would offer no benefits. Researchers have shown that once strategic task behaviors are instilled, overt verbalization may be discontinued with no performance decr...
23 Pages(5750 words)Case Study

Personal Team Skills and Team Awareness, Communication, Feedback

...people ponder over things which they otherwise wouldn’t. Often while communicating, we face people commenting on the ideas we put or the way we put. This kind or any of its kind of feedback is a part of every conversation. A person can either ask for feedback or it can generously be given for the betterment of everyone. Usually within teams it happens that people ask for feedback for any work they do. This helps in improving your shortcomings which will in turn help you deliver better work. While you take a feedback it also increases interaction with your peers and helps maintain a healthy environment. Feedback forms a major part of team building...
8 Pages(2000 words)Case Study

360 Degree Feedback

...efficient in their respective field. It reveals the area where an employee should provide more importance (Right Management Consultants, “Effective Use of 360 Degree Feedback”). At Landon, the 360 degree feedback was used as a method to gather feedback of their employees from incumbents of the organization present at the various hierarchy levels such as downward hierarchical employees, upward hierarchical employees, and colleagues i.e. peers along with outsiders not directly part of the Landon’s hierarchy. A feedback form is provided to the raters and they are asked to provide their views in that form. A self-evaluation is also in place where the person who is receiving...
5 Pages(1250 words)Case Study

Learning Development through Feedback

... Social Networking The emergence of social networking sites like Facebook has helped in the efficient transformation of the recruitment and selection process in a great manner. The social networking sites like Facebook, other internet portals like, help the organisations in generating a pool of effective human resources. Large organisations like Ernst and Young are taking help of the social networking activities to build a stronger and effective face of the organisation to the broader society. Rendering feedback through blogs and these sites has helped the concerns in gaining a wider network of people interested in serving the organisations. The recruitment and selection process enabled through the social networking...
7 Pages(1750 words)Case Study

Feedback Control System, with the Controller Designed using Direct Synthesis Method

.... In this regard, this exercise involves designing a feedback control system with the use of direct synthesis method using first order Taylor expansion. In this case, the controller was implemented with a standard industrial controller. Also closed loop Ziegler –Nichols empirical method was used. 2.0. Feedback Control System, with the Controller Designed using Direct Synthesis Method i). Identify the plant transfer function and the desired closed-loop system transfer function. Then, Design a feedback control system, with the controller designed using Direct Synthesis Method, where the time delay is approximated using the first-order Taylor expansion. Implement the controller with a...
10 Pages(2500 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Feedback for FREE!

Contact Us