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Full-Text Articles in Housing Law
Shedding Some Light On Lending: The Effect Of Expanded Disclosure Laws On Home Mortgage Marketing, Lending And Discrimination In The New York Metropolitan Area, Richard D. Marsico
Shedding Some Light On Lending: The Effect Of Expanded Disclosure Laws On Home Mortgage Marketing, Lending And Discrimination In The New York Metropolitan Area, Richard D. Marsico
Articles & Chapters
No abstract provided.
Renegotiation And Secured Credit: Explaining The Equity Of Redemption, Marshall E. Tracht
Renegotiation And Secured Credit: Explaining The Equity Of Redemption, Marshall E. Tracht
Articles & Chapters
The prohibition against "clogging the equity of redemption" has been enforced by the courts for centuries, yet the traditional justifications (invoking fairness or unfair bargaining power) offered for this central premise of mortgage law are rather unconvincing, particularly in the commercial context. After describing and critiquing the traditional view, this article lays out an alternative justification for the equity of redemption, stressing the role of the law in fostering efficient renegotiation upon default. This view explains why the equity of redemption cannot be waived in the initial loan documents, and why it can be waived in subsequent workouts only if …