The Foreclosure of America: Life Inside Countrywide Home Loans and the Selling of the American Dream

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Adam Michaelson

The Foreclosure of America

Name: The Foreclosure of America
Price: 49.99 AUD
Availability: OutOfStock
ISBN: 9780425233764

Life Inside Countrywide Home Loans and the Selling of the American Dream

Adam Michaelson

$49.99

Paperback

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English

Berkley Publishing Corporation,U.S.
06 April 2010

Economic history; Property & real estate

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.

By: Adam Michaelson
Imprint: Berkley Publishing Corporation,U.S.
Country of Publication: United States
Dimensions: Height: 211mm, Width: 140mm, Spine: 25mm
Weight: 349g
ISBN: 9780425233764
ISBN 10: 0425233766
Pages: 384
Publication Date: 06 April 2010
Recommended Age: From 18 years
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active