foreclosure nation mortgaging the american dream

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Foreclosure Nation

Author : Shari B. Olefson
ISBN : 9781591028673
Genre : Business & Economics
File Size : 71. 22 MB
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The family residence is the backbone of the American economy, the most valuable and enduring asset for those who have achieved a financial foothold. Yet today record numbers of households confront foreclosure. In the next year it is estimated that over two million Americans will lose their homes and almost two billion dollars of wealth will disappear in the process. How did the traditional "American Dream" morph into a nightmare for so many? Real estate attorney and educator Shari B. Olefson, a recognized expert in the current mortgage crisis and its effects on homeowners, explains how America slipped to the edge of this dangerous stagnation-recession precipice. In plain language that is easily understandable to the average person, she clarifies legal and financial terminology and describes how our country’s mortgage system really works. Utilizing real-life lender and borrower interviews, she exposes its intrinsic flaws and often discriminatory practices, from the mortgage application process to the securitization of bundled mortgages by large investment firms. She also provides evidence to show the government’s and Wall Street’s roles in both causing and solving the problem. Above all, Olefson offers expert tips, tools, and resources to help you: • Choose a mortgage professional and understand what’s motivating him or her • Decide what mortgage product fits best and when to refinance • Get the best fees, interest rate, and service • Create your own solutions for navigating the credit crunch • Know what to do when you can’t afford your mortgage • Protect your home if you are at risk of foreclosure • Understand how to proceed if you are already in foreclosure • Capitalize on emerging opportunities and avoid the scams and mortgage fraud • Prepare for coming changes Foreclosure Nation demystifies the real estate bubble and the subprime mortgage crises that followed. With bold, clear visuals like inventory, absorption, and price trend graphs, Olefson pinpoints exactly when and why experts are predicting a recovery. She also cites statistics that strongly suggest the number of foreclosures will surge in the fall of 2008 and again in 2009, with increased reverberations felt throughout the US and global economies. Foreclosure Nation will prove indispensable to explaining what is happening and guiding readers through. Whether you are planning on buying your first home, struggling to meet your current mortgage payments, facing foreclosure, or wondering how your investments will be affected, this comprehensive book will assuage the fear of the unknown, empowering you to make wise choices and protect your most valuable assets.

Ratingagenturen Und Verbriefungskrise Being Foreclosed On The American Dream

Author : Christian Böhm
ISBN : 9783836635141
Genre : Business & Economics
File Size : 51. 54 MB
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Inhaltsangabe:Einleitung: Seit nunmehr fast zwei Jahren beherrscht die aktuelle Krise, die sich von der Subprimekrise über die Verbriefungs- zur Finanzmarktkrise hin zur schweren Rezession ausgeweitet hat, deren Auswirkungen aktuell noch nicht genau quantifizierbar sind, die ökonomische Medienlandschaft. Erwartet wird die schwerste Rezession seit der Großen Depression. Eine komplette Analyse der letzten zwei Jahre sprengt den Rahmen einer Diplomarbeit. Diese Arbeit betrachtet daher die der Krise als Verbriefungskrise i.e.S. und klammert die nachfolgende Finanzmarkt- und Wirtschaftskrise weitgehend aus. Aus dieser Sicht ergeben sich drei Themenkomplexe. Zum Verständnis der Blase am US-Eigennutzerimmobilienmarkt ist zunächst einmal die Analyse des US-Eigennutzerimmobilienmarktes sowie zugehörigen Primär- und Sekundärmarktes für Finanzierungen notwendig. Diese Märkte haben eine völlig andere Funktionsweise als z.B. in Deutschland. Zwar wurde die Bedeutung der Government Sponsored Enterprises (GSEs) Fannie Mae und Freddie Mac von Albrecht untersucht; vor Beginn der Krise war das Interesse an diesen Märkten und demnach ist auch das Verständnis dieser Märkte noch immer gering. So zitiert Rudolph einen Immobilienfinanzierungsratgeber aus dem Jahre 1982 und verweist auf zahlreiche innovative Finanzierungsformen, die seit Anfang der 80er Jahre entstanden seien. Die dort angeführten Produkte sind jedoch allesamt Nischenprodukte geblieben und haben keinen Bezug zur aktuellen Krise, lediglich das Konzept der Shared Appreciation Mortgage (SAM) weist eine entfernte Ähnlichkeit zu den (Pay)-option-ARM Darlehen auf. Maßgeblicher Unterschied zwischen beiden Darlehensformen ist, dass ein option-ARM-Darlehen trotz Verschiebung von Zahlungen in die Zukunft noch immer ein Festbetragsanspruch ist, während der Kreditgeber bei SAMs als Ausgleich für einen niedrigeren Zinssatz einen Teil der Wertsteigerung der Immobilie erhält. Zu den Ursachen des Immobilienbooms schreibt das Institut der deutschen Wirtschaft in einer Publikation von Juli 2008: Der Immobilienpreisboom fußte unter anderem auf einem starken Wachstum der verfügbaren Einkommen und einem deutlichen Zuwachs der Beschäftigung . Hier verwechselt das IW Henne und Ei. Richtig ist, dass die Refinanzierung eines Hypothekendarlehens ohne Aufstockung zu niedrigerem Zinssatz bei gleicher Laufzeit einen Einkommenseffekt mit sich bringt. Diese c.p.-Bedingung war jedoch eine Ausnahme und keinesfalls die Regel; [...]

Segregation

Author : James H. Carr
ISBN : 9780415965347
Genre : Business & Economics
File Size : 90. 81 MB
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Segregation: The Rising Costs for America documents how discriminatory practices in the housing markets through most of the past century, and that continue today, have produced extreme levels of residential segregation that result in significant disparities in access to good jobs, quality education, homeownership attainment and asset accumulation between minority and non-minority households. The book also demonstrates how problems facing minority communities are increasingly important to the nation's long-term economic vitality and global competitiveness as a whole. Solutions to the challenges facing the nation in creating a more equitable society are not beyond our ability to design or implement, and it is in the interest of all Americans to support programs aimed at creating a more just society. The book is uniquely valuable to students in the social sciences and public policy, as well as to policy makers, and city planners.

Foreclosed Rehousing The American Dream

Author :
ISBN : 9780870708589
Genre :
File Size : 25. 95 MB
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Homeownership Preservation Federal Efforts To Combat Foreclosure Rescue Schemes Are Underway But Improved Planning Elements Could Enhance Progress

Author :
ISBN : 9781437937930
Genre :
File Size : 44. 48 MB
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Saving Your American Dream

Author : Jason Biro
ISBN : 9781933771793
Genre : Business & Economics
File Size : 45. 98 MB
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Provides information about the American mortgage system, including the factors that led to the current housing crisis, the home loan process, and strategies for saving a home from foreclosure.

A Dream Foreclosed

Author : Laura Gottesdiener
ISBN : 9781884519215
Genre : Business & Economics
File Size : 36. 92 MB
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"Real-life stories of how banks are ravaging the country--particularly African American communities--and how some families have joined together to fight back. The ongoing economic crisis has created one of the longest and largest mass displacements in U.S. history. While profiting from government bailouts, banks have evicted more than ten million Americans from their homes, destroying their life savings, their economic security and their dreams. Told through the eyes of four families, A Dream Foreclosed reveals the ongoing human tragedy of the crisis--and the spectacular possibilities that emerge when everyday people challenge the all-powerful corporations that the U.S. government considers 'too big to indict.'"--Cover p. [4].

Library Journal

Author :
ISBN : UCSC:32106017981504
Genre : Libraries
File Size : 90. 60 MB
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You Can Achieve The American Dream With The Right Keys

Author : James N. Rivers
ISBN : 9781608442928
Genre : Business & Economics
File Size : 48. 15 MB
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In today's tighten lending environment many people believe that their hopes and dreams of home ownership must be deferred or forgotten. It seems as if the doors to obtaining mortgage financing have been locked shut. But with the right keys you can open any door, that's why You Can Achieve The American Dream...With the Right Keys is a must read for anyone wanting to purchase a home, become a real estate investor, refinance their current home or modify the terms of their mortgage to avoid foreclosure or to simply lower their monthly mortgage payment. Are you one of the millions of people who have put your dream of buying a home on hold due to the belief that mortgage lenders are not approving anyone, unless they have a 700 plus credit score? Do you need to refinance your home to a lower interest rate or before your adjustable rate mortgage increases, but you feel that the value of your home may have decreased? Or is your family one of the millions of families that are struggling to pay their mortgage or ever several months behind on your mortgage, and you're wondering what can you do to avoid foreclosure and save your home? Wonder and search no more, the keys to getting your mortgage company to say yes, are in your hands. Over the past 20 years James Rivers has assisted in making the dreams of thousands of families a reality. His clients range from families on fixed incomes who needed a mortgage to purchase a $40,000 home to professional athletes and entertainers in need of financing to purchase multi-million dollar homes. James often recounts assisting one of his first families with buying their very first home. It was the home that the family had driven by and dreamed of one day owning. Their dream came true. Although, the economic climate and the mortgage industry has changed over the years, James Rivers' passion for helping people obtain the mortgage financing that best fits their needs has not. In his book You Can Achieve The American Dream...With The Right Keys he shares his wealth of knowledge and insight in a very straight forward and honest approach. His book provides a clear step-by-step road map to anyone wanting to purchase a home, become a real estate investor, refinance their current home, or modify the terms of their mortgage to avoid foreclosure or to simply reduce their monthly mortgage payment. To find out more visit his website www.Achieve-The-American-Dream.com

Real Estate The American Dream Or Nightmare

Author : Megan Zucaro
ISBN : 9781467041775
Genre : Business & Economics
File Size : 22. 3 MB
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This book will truly teach you 30 years of combined experience from Megan and Zeke! if you want to BUY, SELL or SAVE your home this is the book for you! After going through a financial crisis in 2007-2009 Megan realized there was no one out there to help that does not have a biased opinion;so Megan decided to take all the nasty and good things she had learned and truly help people across the country! Megan has seen the worst financially, bounced checks, tax liens, Bankruptcy, pawning jewlery..... everything as a financial planner she cringed at she now had experienced and overcome By the Grace of GOD. Megan and Zeke did overcome the worst financial crisis they could have imagined so Megan decided to help the rest of the world by teaching all the ways to get in and out of homes along with other fantastic financial secrets no one in the financial world wants you to know about! This book will not only help you buy, sell or save your home but after reading it you will have more knowledge than 90% of people out there on Real Estate! It will give you the basic tools to help yourself and be able to make the best decision for you! Megan and Zeke believe in Prosperity through charity therefore 50% of book profits go to help people in financial crisis.

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