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The Double-Edged Sword of Borrowing: Increasing Costs of Homeownership and the Roles of Property and Loan Flipping in New York City

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dc.contributor.authorAbabon, Anthony
dc.date.accessioned2020-09-04T16:15:48Z
dc.date.available2020-09-04T16:15:48Z
dc.date.issued2006-01-01
dc.description.abstract[Excerpt] Introduction For many low- and moderate-income homeowners, home equity represents their single largest asset. 1 Unfortunately, unscrupulous lenders and real estate sales people are targeting low-income residents in fi nancial distress to profi t from rising house values. They are offering equity-stripping refi nancing, selling over-appraised homes to fi rsttime buyers, and offering fi nancial assistance that can place unaware homeowners in serious jeopardy of default, foreclosure, or eviction.
dc.description.legacydownloads2006_65_88_Ababon.pdf: 300 downloads, before Aug. 1, 2020.
dc.identifier.other5324202
dc.identifier.urihttps://hdl.handle.net/1813/70612
dc.language.isoen_US
dc.relation.ispartofseriesCornell Real Estate Review
dc.rightsRequired Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subjectNew York City
dc.subjectflipping
dc.subjecthomeownership
dc.subjectfinancial distress
dc.subjectproperty tax
dc.subjecthome purchase lending
dc.subjectmortgage lending
dc.subjecthomeownership counseling
dc.subjectpredatory lending
dc.subjectlow-income
dc.titleThe Double-Edged Sword of Borrowing: Increasing Costs of Homeownership and the Roles of Property and Loan Flipping in New York City
dc.typearticle
local.authorAffiliationAbabon, Anthony: Cornell University aa333@cornell.edu
schema.issueNumberVol. 4

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CRER Vol. 04 (2006)