Non-Fiction Books:

The Foreclosure of America

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

Format

Paperback

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The Foreclosure of America by Adam Michaelson
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Description

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.
Release date Australia
April 6th, 2010
Imprint
Berkley Books
Interest Age
From 18 years
Pages
354
Dimensions
139x208x26
ISBN-13
9780425233764
Product ID
4024475

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