The Foreclosure of America

Released on by Adam Michaelson
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  • The Foreclosure of America Book Detail

  • Author : Adam Michaelson
  • Release Date : 2009-01-06
  • Publisher : Penguin
  • Genre : Business & Economics
  • Pages : 372
  • ISBN 13 : 1440661936
  • File Size : 35,35 MB
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The Foreclosure of America by Adam Michaelson PDF Summary

Book Description: Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis, from a former mortgage lender executive. In July 2004, Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger, supporting homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out, Countrywide suffered the consequences-as did millions of Americans. With an insider's knowledge and thorough reporting on the impact on American families and the ripple effects on the economy, Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company, confronts the ethical questions that have arisen in the wake of the foreclosure crisis, and offers creative proposals to prevent such a meltdown from ever happening again.

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The Foreclosure of America

The Foreclosure of America

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Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis, from a former mortgage lender executive. In July 2004, Adam Michaelson attend

Foreclosed America

Foreclosed America

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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

A Dream Foreclosed

A Dream Foreclosed

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A moving exploration of homeownership, freedom, and the American Dream in light of the ongoing financial crisis and mass foreclosure.

Fighting Foreclosure

Fighting Foreclosure

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In the depths of the Great Depression, when foreclosure rates skyrocketed across the United States, more than two dozen states passed mortgage-extension or -adj