Kansas City Richmond, California became the first city in the country to take charge of the foreclosure crisis, lingering since 2007, by using its powers of eminent domain to force the hands of the banks to renegotiate the mortgages to market value. As it happens, this issue of Social Policy leads with a great …
Tag: housing crisis
More Evidence of Home Invasions by Zombie Bank Criminal Conspiracy
New Orleans Evidence of the death march of the zombie bankers continues as they desperately try to shore up balance sheets based on non-existent assets with continued predatory cannibalization of homeowners through blatant home invasions and foreclosure seizures. Two more stories provide more evidence of both the criminal conspiracy and the banks blatant lying that …
Mortgage Brokers Wrest Free of Real Regulatory Reform
New Orleans On the eve of the subprime meltdown in 2007 in Orange County, I met with a co-founder and the new CEO, general counsel, and some of the board members of the high flying mortgage player, New Century, along with several ACORN leaders from California, and ACORN’s national housing directors. We listened to crazy …