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Home Foreclosures: Will Voluntary Mortgage Modification Help Families Save Their Homes? Part Ii? : Hearing Before The H. Comm. On The Judiciary Subcomm. On Commercial And Administrative Law, 111th Cong., Dec. 11, 2009 (Statement Of Associate Professor Adam J. Levitin, Geo. U. L. Center), Adam J. Levitin

Testimony Before Congress

The results to date from MHAP are deeply disappointing. Even the most optimistic view of HAMP and HARP’s potential would now project the programs as having only a minor impact on the foreclosure crisis. Until and unless the problems of unemployment; negative equity, and servicer capacity, incentives, and contract restrictions are addressed, we are unlikely to see noticeably different results. These issues cannot be addressed within the current structure of HAMP.

Unfortunately, none of the solutions for foreclosures due to unemployment are particularly satisfying, and without addressing unemployment, foreclosures will remain at elevated levels. Bankruptcy presents possible solutions to negative …

Greening Historic Dc: Challenges And Opportunities To Incorporate Historic Preservation Into The District's Drive For Sustainable Development, Andrew Stein

Georgetown Law Historic Preservation Papers Series

This paper focuses primarily on the District of Columbia, a city with a robust past and a bold agenda for a sustainable future. However, it may not be obvious why historic preservation - a movement typically concerned with aesthetics - can play an integral role in a city's sustainability initiative. Therefore, this paper first sets forth the basic argument why historic preservation can be a tool to promote sustainable development. Part II examines the scientific data indicating that historic preservation is a green building practice. Next, Part III posits that investment in historic districts is an investment in sustainability. Then, …

Affordable Housing And The Conflict Of Competing Goods: A Policy Dilemma, Michael R. Diamond

Georgetown Law Faculty Publications and Other Works

This paper, which was the keynote address at a conference on Affordable Housing and Pubic Private Partnerships at the University of Colorado Law School, is designed to point out the conflicts between various competing social “goods” in relation to the provision of affordable housing. In a world of finite resources in which competing goods cannot both be maximized at the same time, when the goods are incommensurable, how ought a society choose among them? The paper focuses on such issues as preservation of affordable housing and wealth creation; affordability and handicapped accessibility or green development. It examines various methods of …

Another Model Of Low Income Housing Tax Credit Development: Building Housing And Building Capacity, Michael R. Diamond

Georgetown Law Faculty Publications and Other Works

This paper was first delivered at a conference on Affordable Housing and Pubic Private Partnerships at the University of Colorado Law School. It addresses the creation of community institutions able to acquire and wield power in the affordable housing realm. While this ability has generally been associat4ed with buildings purchased and operated by tenant groups, the paper suggests other affordable housing situations, particularly those developed under the Low Income Housing Tax Credit program, in which the accretion of power can occur. It proposes a model of tenant involvement in development and operation of affordable rental housing that can, in certain …

The Meaning And Nature Of Property: Homeownership And Shared Equity In The Context Of Poverty, Michael R. Diamond

Georgetown Law Faculty Publications and Other Works

While a Blackstonian view of property envisaged a “despotic dominion” of an owner over a thing, property has never been so absolute. In fact, as I argue in this paper, the nature of property has been culturally constructed and property means different thinks across cultures and even over time within the same culture. The question of the nature of property was highlighted for me when a student questioned whether equity limitations placed on homes purchased by low income buyers using subsidized public financing created a “second class” form of homeownership. In attempting to answer this question, I examined the ideas …