Affordable Housing Institute : US

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 […]