My Experience With Real Estate And The Mortgage Crisis

America flourishing in the real estate sector and the US economy from Wall Street to individuals benefiting from the booming housing market. However, while all this was

In the summer of 2008, my parents bought a condominium that had gone into foreclosure. Our goal was to “flip” the newly-acquired asset and make a profit. Since “flipping” houses was only a part-time job for my parents, I decided to lend a helping hand. I dragged trash out, demolished a ragged couch, and painted the walls. We transformed the property from a dirty dump to a highly-desired home that received multiple offers and was sold in two weeks. The previous homeowner had neglected numerous court

mediated over 500 foreclosure mediations during the foreclosure crisis. Looking back at the many family experiences I witnessed and the consequences endured as a result of those experiences, there were many lessons to be learned. Three of the most important lessons are: (1) education; (2) moderation; and (3) exploration. Buyers will get more education on the lending process; banks will exercise more moderation in extending mortgage loans, and the government will explore more concrete ways to resolve

The American Dream: Work hard, get your dream career, buy a house with a white picket fence, and start a family. Historically, owning a home has been an essential part of achieving the “American Dream.” Owning a home allows an individual or a family to take pride in their property, allows them to raise a family, and allows them a safe place to grow. Unfortunately, the reality of the housing bust during the Great Recession, with its explosion of foreclosures, has led Millennials to become hesitant

A mortgage meltdown and financial crisis of unbelievable magnitude was brewing and very few people, including politicians, the media, and the poor unsuspecting mortgage borrowers anticipated the ramifications that were about to occur. The financial crisis of 2008 was the worst financial crisis since the Great Depression; ultimately coalescing into the largest bankruptcies in world history--approximately 30 million people lost their jobs, trillions of dollars in wealth diminished, and millions of

were unable to pay their monthly mortgage payments which resulted in home foreclosures. A foreclosure is legal proceeding that bars or extinguishes a mortgagor’s right of redeeming a mortgaged estate (“foreclosure“, n.d.). In New Jersey, the statewide foreclosure rate is 0.03% and the unemployment rate is 9.7% resulting from the loss of 179,400 high paying jobs that were replaced by lower paying jobs (Mackenzie, 2009, p. 1). It is clearly evident that the crisis of home foreclosure throughout the

Several years ago, the United States experienced an economic disaster like no one has ever seen before. This economic crisis left families devastated, broken and in disbelief as they were being escorted and locked out of their homes in the presenceof neighbors, families, and children. During the economic crisis, the current “boomerang buyers”were not able to meet their financial obligations, and as a result lost their homes to foreclosure, and many had to file bankruptcy.Purchasing a home with

a housing bubble is a type of economic bubble that occurs periodically in local or global real estate markets. It is characterized by rapid increases in valuations of real property such as housing until they reach unsustainable levels and then decline. Four years into the housing bubble downturn, much of the country remains hopelessly confused about what happened, why it happened and who is to blame. In my research paper I will try and demonstrate what a housing bubble is, some of the reasons for

the aftermath of the Financial Crisis of 2007. After seeing the global economy stall in the face of massive losses in word financial markets, many Americans sought to better understand the crisis and its causes. This book, written from the perspective of a financial market insider, provides a glimpse into the world of global finance and also seeks to explain how the players in this world were involved in the crisis. In the words of the author Lawrence McDonald, “My objective in writing A Colossal

FINANCE THE GLOBAL FINANCIAL CRISIS 2008 Group’s member:Nguyễn Như Nam (C)Phan Thu AnNguyễn Thùy DungHoàng Bá SơnNgô Thị Ánh TuyếtDate: 28/11/2014 | AbstractIn 2008 the world was fell into the worst financial crisis since the Great Depression of 1929-1933. Although this crisis has gone, however, its consequences for the economy of many countries is very serious, even now many nations are still struggling to escape difficulty. Just in a short period, the crisis originating from America has spread