Why Europe Needs a New Deal, Not Breakup
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Defaulting on a loan typically triggers a higher interest rate – “default interest” – as one of many consequences for the borrower. The answer to that question has evolved from 1988 to the present, starting with the 9th Circuit's decision in In re Entz-White Lumber & Supply, Inc. 850 F.2d 1338, followed by the enactment…
The Supreme Court has ruled that cities may sue banks for predatory lending practices among minority customers that lead to foreclosures, declines in property taxes and dips in property values. The justices' 5-3 ruling Monday validates a novel approach by Miami and other cities to try to hold banks accountable under the federal Fair Housing…
In First Southern Nat'l Bank v. Sunnyslope Hous. LP , 2017 BL 216965 , the U.S. Court of Appeals for the Ninth Circuit held en banc that, in determining whether a chapter 11 plan may be confirmed over the objection of a secured creditor, the creditor's collateral must be valued in accordance with the debtor's…
A judge has suspended property tax bills at dozens of homes near Detroit in the latest round of a decades-old lawsuit over the destruction of black neighborhoods. Hamtramck has struggled to fulfill an agreement to offer low-cost family housing as the remedy for discrimination in the 1950s and '60s. Foreclosure News
A decade now after the 2008 financial crisis, the cultural and psychological imprint that it left looks almost as deep as the one that followed the Great Depression. Its legacy includes a new radical politics on both left and right; epidemics of opioid-abuse, suicides, and low birthrates; and widespread resentment, racial and gendered and otherwise,…
“Around that time there were so many bank foreclosures the market was really distressed,” said local real estate agent Jennifer Vozka. The report shows the average sales price on a home increasing by eight percent, and houses are being sold at a faster pace. Foreclosure News