The Foreclosure of America - by Adam Michaelson (Paperback)

Name: The Foreclosure of America - by Adam Michaelson (Paperback)
Brand: Berkley Books
SKU: 1008291011
Price: 24.00 USD
Availability: InStock

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Highlights

Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis, from a former mortgage lender executive.
Author(s): Adam Michaelson
384 Pages
Business + Money Management, Economic History

Description

About the Book

From Countrywide's former senior vice president of marketing comes the first engrossing inside look at Countrywide Home Loans, how the mortgage crisis started--and where it may end.

Book Synopsis

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.

Review Quotes

Dimensions (Overall): 8.2 Inches (H) x 5.48 Inches (W) x 1.01 Inches (D)

Weight: .69 Pounds

Suggested Age: 22 Years and Up

Number of Pages: 384

Genre: Business + Money Management

Sub-Genre: Economic History

Publisher: Berkley Books

Format: Paperback

Author: Adam Michaelson

Language: English

Street Date: April 6, 2010

TCIN: 1008291011

UPC: 9780425233764

Item Number (DPCI): 247-23-2171

Origin: Made in the USA or Imported

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Shipping details

Estimated ship dimensions: 1.01 inches length x 5.48 inches width x 8.2 inches height

Estimated ship weight: 0.69 pounds

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