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Book Synopsis Consumer Abuses in Home Improvement Financing by : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Housing and Community Opportunity
Download or read book Consumer Abuses in Home Improvement Financing written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 1998 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis CONSUMER ABUSES IN HOME IMPROVEMENT FINANCING... HEARING... SERIAL NO. 105-59... COMMITTEE ON BANKING & FINANCIAL SERVICES, U.S. HOUSE OF RE. by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs
Download or read book CONSUMER ABUSES IN HOME IMPROVEMENT FINANCING... HEARING... SERIAL NO. 105-59... COMMITTEE ON BANKING & FINANCIAL SERVICES, U.S. HOUSE OF RE. written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs and published by . This book was released on 1998* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis 105-2 Hearing: Consumer Abuses in Home Improvement Financing, Serial No. 105-59, April 30, 1998 by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs
Download or read book 105-2 Hearing: Consumer Abuses in Home Improvement Financing, Serial No. 105-59, April 30, 1998 written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs and published by . This book was released on 1998* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Protecting homeowners by : United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Download or read book Protecting homeowners written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2003 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt:
In this Article, I advocate modification of the law governing home improvement financing. In section I, I discuss the prevalence of home improvement scams, the dual system of home improvement financing available to affluent and poor homeowners, and the social cost of home improvement scams. Despite attempts by lawmakers to protect homeowners from unscrupulous home improvement contractors and lenders, home improvement scams remain a significant consumer problem. Most victims of such scams are poor, minority, and elderly homeowners. These homeowners obtain home improvements and home improvement financing through a system with tremendous potential for abuse. In this system, contractors and lenders use high pressure tactics and fraud to induce homeowners into disadvantageous home improvement transactions. Ultimately, victims of home improvement scams may, like the Hogans, lose their homes.In section II, I discuss the application of negotiable instruments law to home improvement loans. The Federal Trade Commission adopted its Holder in Due Course Rule to ameliorate some of the harshness of negotiable instruments law in consumer transactions. Other state and federal measures are also designed to protect consumers who borrow to improve their homes. In sections III and IV, I explain why these measures have not been sufficient to eliminate abuse by home improvement contractors and lenders. In cases of abuse, a homeowner who has executed a promissory note to evidence the obligation to pay a home improvement loan must prove defenses to payment. In most states,the homeowner also must initiate a lawsuit against the lender to enjoin foreclosure because foreclosure without judicial hearing is permitted. The burden of initiating suit is particularly onerous because a suit to obtain an injunction is likely to be expensive and require the assistance of an attorney. Placing these burdens on the homeowner is not appropriate when a relationship between the contractor and the home improvement lender exists because this circumstance increases the likelihood of a defense to payment. Therefore, in section V, I recommend prohibiting promissory notes and power of sale foreclosure in home improvement loans made by lenders who have a relationship to the contractor. This measure would shift the burdens of proof and initiating suit to the lenders.
Book Synopsis Constructing a New Theoretical Framework for Home Improvement Financing by : Julia Patterson Forrester
Download or read book Constructing a New Theoretical Framework for Home Improvement Financing written by Julia Patterson Forrester and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this Article, I advocate modification of the law governing home improvement financing. In section I, I discuss the prevalence of home improvement scams, the dual system of home improvement financing available to affluent and poor homeowners, and the social cost of home improvement scams. Despite attempts by lawmakers to protect homeowners from unscrupulous home improvement contractors and lenders, home improvement scams remain a significant consumer problem. Most victims of such scams are poor, minority, and elderly homeowners. These homeowners obtain home improvements and home improvement financing through a system with tremendous potential for abuse. In this system, contractors and lenders use high pressure tactics and fraud to induce homeowners into disadvantageous home improvement transactions. Ultimately, victims of home improvement scams may, like the Hogans, lose their homes.In section II, I discuss the application of negotiable instruments law to home improvement loans. The Federal Trade Commission adopted its Holder in Due Course Rule to ameliorate some of the harshness of negotiable instruments law in consumer transactions. Other state and federal measures are also designed to protect consumers who borrow to improve their homes. In sections III and IV, I explain why these measures have not been sufficient to eliminate abuse by home improvement contractors and lenders. In cases of abuse, a homeowner who has executed a promissory note to evidence the obligation to pay a home improvement loan must prove defenses to payment. In most states,the homeowner also must initiate a lawsuit against the lender to enjoin foreclosure because foreclosure without judicial hearing is permitted. The burden of initiating suit is particularly onerous because a suit to obtain an injunction is likely to be expensive and require the assistance of an attorney. Placing these burdens on the homeowner is not appropriate when a relationship between the contractor and the home improvement lender exists because this circumstance increases the likelihood of a defense to payment. Therefore, in section V, I recommend prohibiting promissory notes and power of sale foreclosure in home improvement loans made by lenders who have a relationship to the contractor. This measure would shift the burdens of proof and initiating suit to the lenders.
Book Synopsis Consumer Protection by : United States. General Accounting Office
Download or read book Consumer Protection written by United States. General Accounting Office and published by . This book was released on 2004 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Problems in Community Development Banking, Mortgage Lending Discrimination, Reverse Redlining, and Home Equity Lending by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Problems in Community Development Banking, Mortgage Lending Discrimination, Reverse Redlining, and Home Equity Lending written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1993 with total page 848 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Consumer protection federal and state agencies face challenges in combating predatory lending : report to the Chairman and Ranking Minority Member, Special Committee on Aging, U.S. Senate. by :
Download or read book Consumer protection federal and state agencies face challenges in combating predatory lending : report to the Chairman and Ranking Minority Member, Special Committee on Aging, U.S. Senate. written by and published by DIANE Publishing. This book was released on with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reform of the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) by : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Download or read book Reform of the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 1998 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Clearinghouse Review written by and published by . This book was released on 2000 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: