Like many homeowners today, Grace and I now have what has come to be called an “underwater mortgage.” That is, the value of the house owned is lower than the amount of our loan. And like many homeowners in this same situation we considered possible options available that would help to resolve the discrepancy.
One such option that seemed doable was to try and secure a loan modification. We put in our request with the bank. We started the process a good many months back. And it involved what seemed like a never-ending series of phone conversations, emails, faxes, and the use of regular mail. Finally, last week, we received the final communication informing us of the decision concerning our request for a loan modification: “Unfortunately, your loan is not eligible …”
A loan modification would surely have helped to ease some of the financial load. The truth is, just knowing that the loan is underwater is an added burden. Yet how does one, especially one who is a follower of Christ, respond to that?
One sure thing is that we are not going to stop paying our debt. Scripture is quite clear that God expects us to fulfill our financial obligations. “The wicked borrow and do not repay” (Psalm 37.21 TNIV). Running away from our debt is not an option.
The reason given for the denial of our request for a loan modification was that, according to some formula that was used, we were not needy enough to qualify for assistance. We can gripe and complain. We can become bitter. But we can also adopt a stance of trust in God. We can choose a perspective that recognizes that even if we did not get what we want, we still have a God who watches over us.
Come to think of it, instead of grumbling and whining that our request was denied and that we have to carry the financial burden to the fullest, perhaps we should be rejoicing that we were not perceived as needy. Perhaps we ought to adjust our perspective to find reassurance in the fact that we are not deprived to the point that we could no longer pay our debt and have to vacate the house and live on the streets. Even if we feel the burden of the loan, through our joint income God gives us the ability to pay our bills and meet our basic needs. We even have the added bonus of people around us who extend loving support toward us, God’s provision to help ease the load.
Indeed, the psalmist’s words are a refreshing reminder: “Return to your rest, my soul, for the LORD has been good to you” (Psalm 116.7 NIV).
—Keith Y. Jainga