Zeal to halt mortgage fraud hampers housing recovery

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Column by Seth G. Weissman,  an Atlanta real estate lawyer and adjunct professor of city planning at the Georgia Institute of Technology.  Roughly three in 10 homes in the United States are now worth less than the mortgages on those homes. There is a continuing cycle of homeowners walking away from their mortgages, driving down home prices and causing other homeowners to abandon their mortgages. There are potential fixes to housing that do not require new federal stimulus measures but merely require that present programs, policies and attitudes be tweaked.  The sledgehammer we have been taking to the housing market to prevent mortgage fraud needs to be replaced with a scalpel because the former approach is depressing the recovery of the housing market.

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Groups

School of City & Regional Planning

Categories
Economic Development and Policy
Keywords
Fraud, mortgages, weissman
Status
  • Created By: Joanie Chembars
  • Workflow Status: Published
  • Created On: Jul 29, 2011 - 10:45am
  • Last Updated: Oct 7, 2016 - 10:25pm