[PDF] Foreclosures Of Subprime Mortgages In Chicago eBook

Author : Morgan Rose
Publisher : CreateSpace
Page : 36 pages
File Size : 29,77 MB
Release : 2014-12-31
Category :
ISBN : 9781505309089

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A dramatic rise in subprime foreclosures over the past several years has led to calls for restrictions of, or prohibitions against, a range of lending practices loosely termed "predatory." Several cities and states have enacted legislation or regulations aimed at eliminating predatory practices, and some advocacy groups have endorsed action nationally. This working paper uses data from the Chicago metropolitan area to examine the impact of two frequently cited predatory lending practices, long prepayment penalty periods and balloon payments, on the probability of foreclosure on subprime refinance and home purchase mortgages. This paper also examines the impact of low- and no-documentation, and how combinations of low- and no-documentation, long prepayment penalty periods, and balloon payments affect foreclosure rates.

Author : Kristopher S. Gerardi
Publisher : DIANE Publishing
Page : 39 pages
File Size : 41,81 MB
Release : 2010-06
Category : Self-Help
ISBN : 143792879X

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Analyzes the impact of the subprime mortgage crisis on urban neighborhoods in Mass. Explores the topic using a data set that matches race and income info. with property-level, transaction data. Much of the subprime lending in the state was concentrated in urban neighborhoods and that minority homeownerships created with subprime mortgages have proved exceptionally unstable in the face of rapid price declines. Subprime lending did not, as commonly believed, lead to a substantial increase in homeownership by minorities but instead generated turnover in properties owned by minority residents. The particularly dire foreclosure situation in urban neighborhoods actually makes it somewhat easier for policymakers to provide remedies. Illus.

Author :
Publisher : DIANE Publishing
Page : 27 pages
File Size : 28,36 MB
Release : 2010
Category : Foreclosure
ISBN : 1437941966

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This publication highlights MORE-sponsored projects designed to communicate best practices and information about innovative programs to improve conditions in neighborhoods affected by high rates of foreclosure. It also reviews initiatives undertaken by the various Reserve Banks and the Board of Governors to respond to the foreclosure crisis.

Author : Martha Argelia Martinez
Publisher :
Page : 24 pages
File Size : 45,43 MB
Release : 2009
Category : Hispanic Americans
ISBN :

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Overview of the effect of the housing-crisis on Latino communities in Chicago neighborhoods in comparison to non-Latino White and African-American communities. Concentrates on three interrelated dimensions: mortgage credit availability, foreclosure levels, and property values. Demonstrates that unethical and often illegal marketing of subprime mortgages to lower income Latinos increased their vulnerability to foreclosure.

Author : Edward M. Gramlich
Publisher : The Urban Insitute
Page : 124 pages
File Size : 43,4 MB
Release : 2007
Category : Business & Economics
ISBN : 9780877667391

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Over the past decade, a new mortgage market offering loans at low interest rates and for little or no money down has given low-income people an opportunity to pursue the American dream of homeownership. The resulting wave in home buying promised to stabilize neighborhoods and families, boost the economy, and reduce crime. In many ways, the optimists were correct, but now, less than fifteen years later, the subprime mortgage market is collapsing, threatening to take the rest of the housing sector along with it.Subprime Mortgages: America's Latest Boom and Bust analyzes how the subprime market emerged, why it is in crisis, and how we can reform public policy to avert disaster. An attendant examination of the rental market also offers recommendations for shoring up what may be the best housing option for some families.