Law Commons^™

Mortgage Foreclosure In Buckhead, Terika L. Haynes

Terika L Haynes

The purpose of the quantitative ex post facto study was to determine whether a relationship exists between home occupancy type, purchase price, residency duration, and the incidence of mortgage foreclosure of homeowners residing in single-family residential homes in the eight zip codes (30305, 30309, 30318, 30319, 30324, 30326, 30327, and 30342) within the Buckhead community, a high-income community located in Atlanta, Georgia. The possible relationships were explored and evaluated by conducting an archival analysis to examine the Georgia Public Notice Statewide Database of public foreclosure records, Fulton County Property Assessor records, and Fulton County tax data for 2009. The occupancy …

Federalism And Municipal Innovation: Lessons From The Fight Against Vacant Properties, Benton C. Martin

Benton C. Martin

Cities possess a far greater ability to be trailblazers on a national scale than local officials may imagine. Realizing this, city advocates continue to call for renewed recognition by state and federal officials of the benefits of creative local problem-solving. The goal is admirable but warrants caution. The key to successful local initiatives lies not in woolgathering about cooperation with other levels of government but in identifying potential conflicts and using hard work and political savvy to build constituencies and head off objections. To demonstrate that point, this Article examines the legal status of local governments and recent efforts to …

Constitutional Amendment To End Homelessness, Ruben B. Botello Jd

Ruben B Botello JD

CONSTITUTIONAL AMENDMENT TO END HOMELESSNESS IN THE UNITED STATES OF AMERICA

By Ruben Botello, JD

Founder, American Homeless Society

"We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America." (U.S. Constitution, http://constitutionus.com/)

The above-quoted Preamble to our U.S. Constitution ordains and establishes a binding legal document of, by and for the founders of our nation and their Posterity …

How Government Guarantees In Housing Finance Promote Stability, David Min

David Min

In the aftermath of the financial crisis, major reforms of the U.S. housing finance system are likely. One of the key issues facing policy makers in this area is whether and to what extent the federal government should maintain its current role in the residential mortgage markets. Since the New Deal, the federal government has guaranteed the primary sources of housing finance in the United States—bank and thrift deposits, and the obligations of the mortgage securitization conduits Fannie Mae, Freddie Mac, and Ginnie Mae.

The prevailing view of government guarantees is that they increase financial instability because they encourage excessive …

How Government Guarantees In Housing Finance Promote Stability, David Min

David Min

In the aftermath of the financial crisis, major reforms of the U.S. housing finance system are likely. One of the key issues facing policy makers in this area is whether and to what extent the federal government should maintain its current role in the residential mortgage markets. Since the New Deal, the federal government has guaranteed the primary sources of housing finance in the United States—bank and thrift deposits, and the obligations of the mortgage securitization conduits Fannie Mae, Freddie Mac, and Ginnie Mae.

The prevailing view of government guarantees is that they increase financial instability because they encourage excessive …

The Role Of The Law In The Availability Of Public Transit And Affordable Housing In Atlanta’S West End, Elliott Lipinsky

ELLIOTT LIPINSKY

Single family home prices in West End will remain below $250,000 on average due to the generous grants and investment incentives provided by the City of Atlanta and the State of Georgia. Atlanta wants to create affordable, well-designed urban housing. This housing will provide anyone in Atlanta an affordable place to live. The West End is the perfect example of the City’s attempts to create such an environment. Furthermore, the Sky Lofts of West End offer brand new affordable housing in the West End through developer grants, tax abatements, and down payment loans. These government-created incentives have provided affordable housing …

Non-Recourse Mortages – A Fresh Start, Ron Harris, Asher Meir

Ron Harris

In about a quarter of US states, all residential mortgages are essentially non-recourse, meaning that in case of default, the lender can only repossess the house but cannot collect on the private assets and future income of the borrower. This American innovation is now beginning to attract extensive interest abroad, but ironically in the US itself is getting a bad name. The law has been blamed for exacerbating the financial crisis, while stricken homeowners who take advantage of it have been scolded by lenders and even by the Secretary of the Treasury. We propose a fresh and more balanced look …

Socio-Economic Effects Of Demolishing Squatter Settlements And Illegal Structures In Abuja Metropolis, Federal Capital Territory, Nigeria, Ishaku Iy Mallo Phd, Victor G. Obasanya

Confluence Journal Environmental Studies (CJES), Kogi State University, Nigeria

Abuja the Federal Capital Territory and study area is located between latitudes 8o25’ and 9o25’ North of the Equator and longitudes 6o45’ and 7o45’ East of the Greenwich Meridian. The study was carried out in Abuja Phase 1, and it is aimed at highlighting various socioeconomic effects of demolition of illegal structures and informal or squatter settlements on the people within the study area. Data was collected through reconnaissance survey, personal interviews with respondents, and a well laid out questionnaire. The results indicate that the demolition exercise embarked upon by the authorities in the Federal Capital Territory was a response …

The Role Of The Law In The Availability Of Public Transit And Affordable Housing In Atlanta’S West End, Elliott Lipinsky

ELLIOTT LIPINSKY

The Federal Transit Administration (FTA) is a branch of the U.S. Department of Transportation that administers federal funds and provides technical assistance for the support of locally operated public transit systems. MARTA / Atlanta metro area are part of FTA Region IV (the Southeast). FTA would be involved, for instance, in financing the federal grant monies discussed above. But actual regulation of operations (i.e., what MARTA does each day, or what MARTA will plan to do regionally) is more closely regulated by Georgia agencies.

Until recently, the Atlanta metropolitan area had no powerful central agency to coordinate regional transit. The …

Book Review: Edward L. Glaeser, Triumph Of The City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, And Happier (The Penguin Press 2011), David J. Reiss

David J Reiss

It is always a bit unnerving to read someone else’s love letters, but even more so, when you have the same object of desire. Edward Glaeser’s TRIUMPH OF THE CITY is a love letter to cities and to New York City in particular. Glaeser provides a theoertical framework of the city, arguing that “Cities are the absence of physical space between people and companies. They are proximity, density, closeness.”

Glaeser prescribes three simple rules to protect the vitality of the urban environment: First, cities should replace the current lengthy and uncertain permitting process with a simple system of fees. Second, …

Three Principles For Federal Housing Policy, David J. Reiss

David J Reiss

Isolating first principles of housing policy helps identify what is intrinsic to that field. Once done, we can clearly analyze potential policy choices for housing specifically, as opposed to how they may contribute to some larger goal of social policy. Imposing some analytic structure here is of key importance because federal housing policy is a morass of programs and policies. This exercise should help to ensure that monies spent to increase the supply and quality of housing are used efficiently. I argue that the three first principles that inform federal housing policy are (i) allowing all Americans to live in …

Foundations Of Federal Housing Policy, David J. Reiss

David J Reiss

Federal housing policy is heavily funded and made up of a morass of programs. This book chapter provides a taxonomy of goals for housing policy. The chapter first asks what the aim of housing policy is. In other words, what can a well-designed and executed housing policy achieve? The answer to this question is not at all clear-cut. Some argue that the aim of housing policy is to allow all Americans to live in safe, well-maintained and affordable housing. Others argue for a more modest aim – achieving an income transfer to low- and moderate-income families that mandates that the …

Lessons In Price Stability From The U.S. Real Estate Market Collapse, Andrea J. Boyack

Andrea J Boyack

The U.S. residential housing market collapse illustrates the consequences of ignoring risk while funding mortgage borrowing. Collateral over-valuation was a foundational piece of the crisis. Over the past few decades, secondary markets, securitization, policy and psychology increased the flow of funds into real estate. At the same time, financial market segmentation divorced risk from reward. Increased mortgage capital availability, unmitigated by proper risk allocation, led to real estate price inflation. Social trends and government policies exacerbated both the mortgage capital over-supply and the risk-valuation disconnect.

The Dodd-Frank Act inadequately addresses the underlying asset valuation problem. Federal regulation may support market …

Power And Law, Bait And Switch: Debunking “Law” As A Tool Of Societal Change The Disappearing Act Of Affordable Housing In The District Of Columbia, Samuel Jefferson

Samuel Jefferson Jr.

ABSTRACT

POWER AND LAW, BAIT AND SWITCH:

DEBUNKING “LAW” AS A TOOL OF SOCIETAL CHANGE

The Disappearing Act of Affordable Housing in the District of Columbia

by Samuel L. Jefferson, Jr.

I. Introduction

“It was a typical sunny, hot and hazy July afternoon in Washington, D.C. when I, as a 17-year-old, walked down the hill towards my apartment complex. As I approached, I noticed people gathered in the street in front of my building. I also noticed that someone had been evicted. As I moved closer, I noticed that the belongings were mine and my family’s. That’s when, at least …

• The Credit Crisis And Subprime Litigation: How Fraud Without Motive ‘Makes Little Economic Sense’, Peter Hamner

Peter Hamner

The recent collapse of the financial markets spurred numerous lawsuits seeking a faulty party. Many plaintiffs argue that market participants committed securities fraud. They claim that deficient subprime loans caused the financial crisis. These risky loans were allegedly originated by banks to be sold off to third parties. The subprime loans were securitized and spread throughout the financial markets. The risk these loans presented was allegedly not disclosed to the buyers of the loans and securities on the loans. As these deficient loans and securities began to default the financial markets came to a halt. This article argues that securities …

Domestic Violence, The Rucker Decision Interpretation Of 42 U.S.C. 1437d (1) (6), Sexual Harassment In Public Housing, And Municipal Violations Of The Eighth Amendment: Making Women Homeless And Keeping Them Homeless, Shirley D. Howell

Shirley D. Howell

I spent this past summer researching explanations for the rapidly increasing phenomenon of female homelessness in America. While personal deficiencies such as alcoholism, mental illness and previous incarceration account for some female homelessness, I concluded that domestic violence, a flawed interpretation of 42 U.S.C. 1437d(1)(6), sexual harassment in public housing, and municipal violations of the Eighth Amendment are pervasive, but less frequently recognized, causes of female homelessness.

This article examines the great poverty that has befallen so many women in America and its causes. Section I discusses homelessness statistically. Section II examines domestic violence, flawed judicial interpretations, and sexual harassment …

Misbehavior And Mistake In Bankruptcy Mortgage Claims, Katherine Porter

Katherine Porter

The greatest fear of many families in serious financial trouble is that they will lose their homes. Bankruptcy offers a last chance for families to save their homes by halting a foreclosure and by repaying any default on their mortgage loans over a period of years. Mortgage companies participate in bankruptcy by filing claims with the court for the amount of the mortgage debt. To retain their homes bankruptcy debtors must pay these amounts. This process is well-established and, until now, uncontroversial. The assumption is that the protective elements of the federal bankruptcy shield vulnerable homeowners from harm.

This Article …

Property And Radically Changed Circumstances, John Lovett

John Lovett

Although Hurricane Katrina altered our national dialogue about many issues, few scholars have addressed whether the storm changed thinking about fundamental property relationships. This article fills that void in two ways. First, it creates a theoretical framework for understanding property law in the context of events producing radically changed circumstances. It does this by defining these events, exploring the mismatch between property law’s traditional focus on stability and environments of radical change, creating a taxonomy of property relationships tailored for this exploration, describing typical problems confronted after an event of radical change, and finally developing a set of normative criteria …