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Hud And Housing In The 1990s: Crises In Affordability And Accountability, Michael Allan Wolf
Hud And Housing In The 1990s: Crises In Affordability And Accountability, Michael Allan Wolf
Fordham Urban Law Journal
“Half a century ago, in the Housing Act of 1949, Congress declared optimistically that every American should have access to safe, decent, affordable housing.3 In an effort to realize that ambitious objective, federal lawmakers have devised and bureaucrats have implemented a wide array of housing schemes. One commentator has provided nine categories for what he deems the ‘bewildering variety of housing-related programs:’ 1. a federally regulated mortgage finance system; 2. mortgage insurance; 3. interest rate subsidies to home owners, developers, and landlords; 4. tax deductions for mortgage interest; 5. special depreciation allowances for rental housing; 6. low-rent public housing; 7. …
Hud And Housing In The 1990s: Crises In Affordability And Accountability, Michael Allan Wolf
Hud And Housing In The 1990s: Crises In Affordability And Accountability, Michael Allan Wolf
Fordham Urban Law Journal
“Half a century ago, in the Housing Act of 1949, Congress declared optimistically that every American should have access to safe, decent, affordable housing.3 In an effort to realize that ambitious objective, federal lawmakers have devised and bureaucrats have implemented a wide array of housing schemes. One commentator has provided nine categories for what he deems the ‘bewildering variety of housing-related programs:’ 1. a federally regulated mortgage finance system; 2. mortgage insurance; 3. interest rate subsidies to home owners, developers, and landlords; 4. tax deductions for mortgage interest; 5. special depreciation allowances for rental housing; 6. low-rent public housing; 7. …
Fire Insurance Recovery Rights Of The Foreclosing Mortgagee: Is His Lien Lost In The Ashes?, J. Burke Mccormick
Fire Insurance Recovery Rights Of The Foreclosing Mortgagee: Is His Lien Lost In The Ashes?, J. Burke Mccormick
Fordham Urban Law Journal
This note explores the question of a mortgagee's insurable interest under a standard mortgage clause as the process of foreclosure ripens his status from that of mortgagee to property owner. The author argues that while fire insurance recovery rights of the foreclosing mortgagee may appear to be a viable solution to apportionment of indemnity, when the rules are applied to deny recovery, the system becomes unjust. This creates an incentive for the mortgagee to avoid the foreclosure sale (when there is a fire loss to the property), so as to force the loss on the insurance carrier.