Perspective
Nov. 24, 2012
Using injunctions to combat predatory lending practices
In cases where creditors are able to exercise non judicial remedies to recover their collateral to loans and then seek deficiencies, it is essential that consumers have a remedy for creditors who break the law. By Kenneth Eade
In 2007, the U.S. began to experience its worse housing and foreclosure crisis since the Great Depression. The economic crisis we are currently experiencing had its origin in an economic "bubble"; a distortion in the economy that occurs whenever a major commodity or service (in this case housing) becomes such an object of speculation that its perceived value inflates far beyond its actual value. One of the characteristics of such an econ...
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