Sentences with phrase «underwater mortgage crisis»

Until that underwater mortgage crisis is resolved, the South Florida housing market can not be secure in any recovery.

Municipalities across the country have seized on a novel approach to help resolve the current underwater mortgage crisis: using their power of eminent domain to seize mortgage loans from private investors through condemnation.

Not exact matches

Just like subprime mortgage lending dragged so many American homeowners underwater during the housing crisis, some private lenders aggressively marketed their loans to students who weren't financially fit to support them.

«I think of these as high - tech Beanie Babies or 21st - century tulips,» says Robert Hockett, a law professor at Cornell who gained notoriety after the financial crisis for proposing that cities use «eminent domain» to buy out underwater mortgages.

As for the U.S. financial system - particularly major banks - I am continually perplexed by the juxtaposition of tens of millions of underwater mortgages and millions of delinquent and unforeclosed homes, coupled with a set of FASB accounting rules (revised at the height of the recent crisis) that allows these debts to be carried at face value upon the discretion of the banks that report the data.

That was the crisis, and continues to be so, with so many mortgages underwater.

After the 2007 housing crisis, more than a quarter of all Las Vegas mortgages were «underwater», which means homeowners owed at least 125 % more than the actual market value of their homes.

This technique has some far - fetched assumptions baked in (such as finding banks that will take 60 cents on the dollar for performing notes, on the theory that the borrower MIGHT just stop paying on his underwater mortgage), but does at least attempt to exploit the crazy aspects of the current foreclosure crisis, so sure it's food for thought.