Customer Reviews

Foreclosure Nation: Mortgaging the American Dream

5 star:		(8)
4 star:		(0)
3 star:		(0)
2 star:		(0)
1 star:		(0)

 

 

Real estate attorney and educator Shari Olefson is an expert in the current mortgage crisis and its effects on homeowners, and here explains legal and financial terminology and how the national mortgage system works. From choosing a mortgage professional and deciding which product fits to getting the best fees and services, it's a fine collection of real-life stories from frustrated lenders, distressed borrowers, and others caught in the mortgage crunch. Any general lending library will find it a winner.

Wow! It's rare to find a book that is so topical and so detailed. If you want a better understanding of the current foreclosure crisis, get this book. If you want help understanding how the mortgage and foreclosure processes work in general, get this book. Olefson has laid it all out in the most understandable format. I don't know how she did that in such a timely fashion--impressive.

Just read Foreclosure and want to highly recommend it to anyone wanting to have some clear understanding of the reasons for the real estate meltdown and how to handle financing issues going forward. Very practical, useful and insightful. A real handbook for the times.

This is THE most comprehensive, easy to read book on a topic I knew very little about ever. I was looking for a quck way to get up to speed on this whole crises and especially the parts that will affect my home value. Anyone with similar concerns needs to read this book. It explains all of the comlicated things you hear about on the news (like mortgage backed securities???) in a way my 12 year old would understand and shows what that has to do with your home mortgage. On top of that Olefson poses some ideas and questions that really get you thinking about what direction we want our country to be going in. This is the only book you'll ever have to read on the subject. And reading it puts you way ahead of anyone who hasn't in terms of knowing what to expect during the next few years and planning accordingly. I HIGHLY recommend it.

Shari Olefson has hit the ball out of the ballpark! "Foreclosure Nation: Mortgaging the American Dream" is a masterpiece. Ms. Olefson, a renowned South Florida commercial real estate attorney/mediator and partner at Fowler White Boggs in Ft. Lauderdale, has written a book filled with erudition. Great value here for homeowners in crisis, the media, the legal profession, legislators and even, yes, the Obama White House! Cudos, Ms. Olefson, on an indispensable addition to every thoughtful person's library.

This is a very detailed book, but readers will feel like experts after reading it. The author talks about how our society has grown accustomed to credit. Because people wanted things that they could not afford, they started using credit cards. Then, they used more credit to finance the American dream of home ownership. As more people were able to qualify, this created more demand, which pushed home prices up. As home prices kept going up, people refinanced frequently to use homes as personal ATMs. The mortgage business was booming with the help of Wall Street's invention of mortgage-backed securities.

There is not one person or group of people to blame for the crisis. We are all to blame: homeowners, mortgage brokers, Walls Street firms, and rating agencies. Besides an analysis of how we got where we are, the author offers some solutions and predictions about what the future holds. I don't think readers can find a more comprehensive book on the subject. I highly recommend it.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

Ms. Olefson has hit the nail on the head. I appreciated the no nonsense approach to this huge issue. This is a great read for homeowners and professionals alike. Money well spent....when there's not a lot of money around to spend!!

I just finished reading the book, and I'm pleasantly surprised with how detailed, and how current all of the information is. The book gives an enlightening history on how the mortgage process started in America, all the way through to the point where the real estate "bubble burst" resulting in the collapse of Wall Street and some major financial institutions. I would recommend the book to anyone who is looking for concise, easy to read explanations on "why we are where we are" with forclosures, and what to expect in the next few years. In addition, it is a must-read for anyone facing the possibility of a forclosure, as the book explains your rights and different options that you might have.