TITLE

Repossession is the responsible way

PUB. DATE
May 2008
SOURCE
Mortgage Strategy;5/19/2008, p22
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The author discusses the significance of repossession of property as an option for lenders when borrowers fail to pay their mortgages. He notes that repossession would mitigate costs and thus safeguarding not only the interest of lenders but also of the borrowers. He also presents other options for borrowers to avoid the litigation process and its associated costs.
ACCESSION #
32193535

 

Related Articles

  • CRC Questions Loss Mit Efforts. Dymi, Amilda // National Mortgage News;11/12/2007, Vol. 32 Issue 8, p12 

    The article discusses the result of a survey conducted by the California Reinvestment Coalition (CRC) which has shown that lenders in California, are not helping their borrowers to modify the loans and to avoid foreclosure. CRC has found that 57% of borrowers who cannot afford to pay their...

  • Holistic approach needed for debtors. PEARSON, NICK // Mortgage Strategy;2/23/2009, p14 

    The article focuses on the need of holistic approach to be taken by mortgage lenders to avoid mortgage default. The objective of lenders should be to prevent repossession as repossessions and mortgage arrears are reported to touch a record level in 2009. The mortgage lenders should not be under...

  • ARM Adjustments Put Focus on Portfolio Retention. Garritano, Anthony // Mortgage Servicing News;Oct2006, Vol. 10 Issue 9, p10 

    The article reports on the great concern to keep adjustable-rate mortgage (ARM) clients in the U.S. To keep ARM clients is an important matter as resets will cause their payments to balloon and possibly result in increased foreclosures. ARM lenders are not financially prepared says consumer...

  • Labour MP calls for repo crackdown on lenders. McMillan, Paul // Money Marketing;5/18/2006, p20 

    The article reports on the demand for a better regulation of repossessions in protecting consumers by a labor member of Parliament (MP) in Great Britain. George Mudie, MP for Leeds East expressed, that the current growth in repossessions with the questionable and arbitrary behavior of lenders...

  • Debt Collection Law Warped by New Breed of Suits. Thompson, Brandon M. // Americanbanker.com;12/30/2014, p1 

    Borrowers who are being sued by lenders over the money owed on foreclosed mortgages are making novel use of the Fair Debt Collection Practices Act. They argue that they cannot be sued if they live in a state different from the one where the property is located.

  • As the Knot Unravels, A Question Lingers: Why? Conrad, Lee // U.S. Banker;May2007, Vol. 117 Issue 5, p10 

    The article looks into several issues concerning the sub-prime mortgage market in the U.S. The reduction of the market raises the concern on the efforts of both consumers and mortgage companies to keep the growth in the market. To regulate the market, majority of lenders have imposed lending...

  • Theory and Evidence on the Resolution of Financial Distress. Brown, David T.; Ciochetti, Brian A.; Riddiongh, Timothy J. // Review of Financial Studies;Winter2006, Vol. 19 Issue 4, p1357 

    We analyze a financially distressed owner-managed project. The main results of the model are: (1) borrower default is an endogenous response to the anticipated restructuring--foreclosure outcome; (2) the lender's restructuring-foreclosure decision depends critically on the interaction between...

  • The grim repo. Henley, Will // Money Marketing;11/8/2007, p58 

    The article reports on predicted high rise in the repossessions and mortgage arrears which will increase by 50% in 2008 in Great Britain. It is also forecasted that the number of borrowers within three months arrears will achieve 145,000 in 2007 and 175,000 in 2008. Meanwhile, Melanie Bien,...

  • Counseling Helps Borrowers and Servicers Save Millions on Loans. Nemeroff, Evan // Mortgage Servicing News;Feb2012, Vol. 16 Issue 2, p13 

    The article discusses the importance of counseling services in helping servicers and borrowers save on loans. It states that when borrowers attend counseling services, they are more likely to avoid foreclosure by receiving loan modifications. It notes that borrowers are able to remain in their...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics