American Foreclosure
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Author | : Isaac Martin |
Publisher | : Stanford University Press |
Total Pages | : 112 |
Release | : 2015-04-01 |
Genre | : Social Science |
ISBN | : 0804795789 |
From 2007 to 2012, almost five percent of American adults—about ten million people—lost their homes because they could not make mortgage payments. The scale of this home mortgage crisis is unprecedented—and it's not over. Foreclosures still displace more American homeowners every year than at any time before the twenty-first century. The dispossession and forced displacement of American families affects their health, educational success, and access to jobs. It continues to block any real recovery in the hardest-hit communities. While we now know a lot about how this crisis affected the global economy, we still know very little about how it affected the people who lost their homes. Foreclosed America offers the first representative portrait of those people—who they are, how and where they live after losing their homes, and what they have to say about their finances, their neighborhoods, and American politics. It is a sobering picture of Americans down on their luck, and of a crisis that is testing American democracy.
Author | : John A. Fliter |
Publisher | : University Press of Kansas |
Total Pages | : 232 |
Release | : 2012-09-05 |
Genre | : Law |
ISBN | : 0700618724 |
In the depths of the Great Depression, when foreclosure rates skyrocketed across the United States, more than two dozen states passed mortgage-extension or -adjustment laws to help farmers and homeowners keep their properties. One such statute in Minnesota led to the most important property law case of its time and still casts a long shadow upon constitutional debates and our own era's severe economic downturn. Fighting Foreclosure marks the first book-length study of the landmark 1934 Supreme Court decision in Home Building and Loan Association v. Blaisdell, which, by a 5-4 vote, upheld the Minnesota Mortgage Moratorium Act. On the one hand, Blaisdell validated efforts by states to offer legislative relief to citizens struggling to keep their farms and homes. On the other, it caused an outcry among banking interests and conservative legal theorists, who argued that these laws violated the Contract Clause of the Constitution and interfered with our free market system. In his majority opinion, Chief Justice Charles Evans Hughes argued that the reasonable and limited nature of the law and the unusual severity of the emergency it addressed placed it firmly within the "police powers" of the states to protect the health and safety of the people. In a strongly worded dissent, Justice George Sutherland argued for a consistent and strict interpretation of the Contract Clause regardless of economic exigency. John Fliter and Derek Hoff provide a concise history and analysis of not only this landmark case and the reasoning behind its sharply divided decision but also of the entire history of the Contract Clause. They trace closely the agricultural crisis, political pressures, and farmer-protest movement that produced the Minnesota law. And their study contributes to scholarly debate about the origins of the Constitutional Revolution of 1937, by which the Supreme Court accepted the New Deal, as well as to public debates about constitutional interpretation and the role that government should play in providing relief to distressed citizens. In the midst of our nation's ongoing suffering from massive foreclosures and bankruptcies, Fighting Foreclosure also offers a potent reminder that the High Court's decisions often revolve around lives at risk as much as abstract legal debates.
Author | : Laura Gottesdiener |
Publisher | : Zuccotti Park Press |
Total Pages | : 210 |
Release | : 2013 |
Genre | : Biography & Autobiography |
ISBN | : 1884519210 |
A moving exploration of homeownership, freedom, and the American Dream in light of the ongoing financial crisis and mass foreclosure.
Author | : |
Publisher | : The Museum of Modern Art |
Total Pages | : 185 |
Release | : |
Genre | : |
ISBN | : 0870708589 |
Author | : David Dayen |
Publisher | : New Press, The |
Total Pages | : 302 |
Release | : 2016-05-17 |
Genre | : Business & Economics |
ISBN | : 1620971593 |
In the depths of the Great Recession, a cancer nurse, a car dealership worker, and an insurance fraud specialist helped uncover the largest consumer crime in American history—a scandal that implicated dozens of major executives on Wall Street. They called it foreclosure fraud: millions of families were kicked out of their homes based on false evidence by mortgage companies that had no legal right to foreclose. Lisa Epstein, Michael Redman, and Lynn Szymoniak did not work in government or law enforcement. They had no history of anticorporate activism. Instead they were all foreclosure victims, and while struggling with their shame and isolation they committed a revolutionary act: closely reading their mortgage documents, discovering the deceit behind them, and building a movement to expose it. Fiscal Times columnist David Dayen recounts how these ordinary Floridians challenged the most powerful institutions in America armed only with the truth—and for a brief moment they brought the corrupt financial industry to its knees.
Author | : Richard Lord |
Publisher | : |
Total Pages | : 248 |
Release | : 2005 |
Genre | : Business & Economics |
ISBN | : |
Homeowners who can't borrow from banks have long turned to the subprime lending industry for mortgages. Increasingly, that industry has turned on them by charging outrageous fees and usurious interest, and then taking their homes through foreclosure. Richard Lord explores the spread of predatory lending practices. And it tells the stories of borrowers who've been taken, contractors and brokers who've been co-opted, lenders who've cheated--and the world's biggest financial titans, who've cashed in. A battle is taking shape that could determine whether home ownership for working people will be an achievable dream or an American nightmare. Richard Lord is a writer for the "Pittsburgh City Paper" whose work on subprime lending has won numerous awards.
Author | : United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Domestic Policy |
Publisher | : |
Total Pages | : 320 |
Release | : 2007 |
Genre | : Business & Economics |
ISBN | : |
Author | : Noelle Stout |
Publisher | : Univ of California Press |
Total Pages | : 280 |
Release | : 2019-06-04 |
Genre | : Social Science |
ISBN | : 0520965426 |
In the aftermath of the 2008 financial crisis, more than 14 million U.S. homeowners filed for foreclosure. Focusing on the hard-hit Sacramento Valley, Noelle Stout uncovers the predacious bureaucracy that organized the largest bank seizure of residential homes in U.S. history. Stout reveals the failure of Wall Street banks’ mortgage assistance programs—backed by over $300 billion of federal funds—to deliver on the promise of relief. Unlike the programs of the Great Depression, in which the government took on the toxic mortgage debt of Americans, corporate lenders and loan servicers ultimately denied over 70 percent of homeowner applications. In the voices of bank employees and homeowners, Stout unveils how call center representatives felt about denying appeals and shares the fears of families living on the brink of eviction. Stout discloses the impacts of rising inequality on homeowners—from whites who felt their middle-class life unraveling to communities of color who experienced a more precipitous and dire decline. Trapped in a Kafkaesque maze of mortgage assistance, borrowers began to view debt refusal as a moral response to lenders, as seemingly mundane bureaucratic dramas came to redefine the meaning of debt and dispossession.
Author | : Aaron Glantz |
Publisher | : HarperCollins |
Total Pages | : 448 |
Release | : 2019-10-15 |
Genre | : Business & Economics |
ISBN | : 0062869558 |
“[I] can’t recommend this joint enough. ... An illuminating and discomfiting read.” —Ta-Nehisi Coates "Essential reading." —New York Review of Books A shocking, heart-wrenching investigation into America’s housing crisis and the modern-day robber barons who are making a fortune off the backs of the disenfranchised working and middle class—among them, Donald Trump and his inner circle. Two years before the housing market collapsed in 2008, Donald Trump looked forward to a crash: “I sort of hope that happens because then people like me would go in and buy,” he said. But our future president wasn’t alone. While millions of Americans suffered financial loss, tycoons pounced to heartlessly seize thousands of homes—their profiteering made even easier because, as prize-winning investigative reporter Aaron Glantz reveals in Homewreckers, they often used taxpayer money—and the Obama administration’s promise to cover their losses. In Homewreckers, Glantz recounts the transformation of straightforward lending into a morass of slivered and combined mortgage “products” that could be bought and sold, accompanied by a shift in priorities and a loosening of regulations and laws that made it good business to lend money to those who wouldn’t be able to repay. Among the men who laughed their way to the bank: Trump cabinet members Steve Mnuchin and Wilbur Ross, Trump pal and confidant Tom Barrack, and billionaire Republican cash cow Steve Schwarzman. Homewreckers also brilliantly weaves together the stories of those most ravaged by the housing crisis. The result is an eye-opening expose of the greed that decimated millions and enriched a gluttonous few.
Author | : |
Publisher | : |
Total Pages | : 1018 |
Release | : 1910 |
Genre | : Law reports, digests, etc |
ISBN | : |