Developing Affordable Housing Ecosystems World Wide
Using a loan I borrow from you, I buy a house that I now cannot pay for. I fall into default, and you send me notices of default, but I want to renegotiate.
Are you obligated to negotiate with me?
Okay now, bank, let’s negotiate
That appears to be the premise behind litigation recently filed by Lori [...]
Is lending about trust or distrust?
All others pay cash?
Sherlock Holmes believed that debt says, I don’t trust you. As he put it:
“Consider debt. I lend you money, which you promise to repay, in regular installments. Everything about the transaction breathes distrust. In fact, while I personally am no romantic” — Watson broke out in a [...]
When most people threaten to sue, it’s simply a yawn-inducing tactic.
Somebody’s suing me?
When a state attorney general does it, the tactic has more effect.
Litigators! Litigators!
Of such threat vaporware is New York state attorney general Andrew Cuomo a past master, as he recently demonstrated by parlaying his face-down cards into an important settlement action. [...]
And after the Pajama Game, the Debtor Game
So many of the stories we read about subprime home buyers sinking under the weight of their high-interest-rate loans have one nagging flaw: the borrowers whom they cite were in debt trouble before they got the subprime loan. As a consumer advocate puts it:
“A typical subprime borrower is [...]
Yesterday’s exploration of the house-buying scheme designed to defraud a too-eager lender, in the form of Bear Stearns Residential Mortgage, chronicled how a small ring of sharp characters posed as all of the stakeholders in the home-buying value chain – borrower, originator, appraiser – to secure inflated mortgages on properties for which they were paying [...]
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