Posts Tagged ‘Lisa Madigan’
Chicago Hearts Texas
Mary Umberger at the Chicago Tribune has written a kind and thoughtful article about my Texas prescription for avoiding future foreclosures: limit cash-out refinancing to 80 percent of a home’s value.
Expert/friends I’ve been talking to since my article ran in The Big Money/Slate/Washington Post note that constitutionally any legislation directly restricting cash-outs, Texas-style, would have to take place at the state level. So how about it, Illinois? Sure, it’ll be a tough sell politically, especially once the lobbyists and donors descend. I can already hear the cry: The politicians are stealing Americans’ freedom [to destroy their family finances]!
But as Umberger notes the real estate biz is more split on cash-outs than you might imagine. The Texas Realtors, for one, have vigorously defended the state’s cash-out limits. After all, they want selling a home to be the readiest way to tap home equity.
How the homes we live in turned into the monsters that ate our economy and the United States became a nation obsessed with real estate.
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Organizations that matter
- Affordable Housing Centers of America
- Arthur L. Carter Journalism Institute
- Brookings Metropolitan Policy Program
- Center for Budget and Policy Priorities
- Center for Responsible Lending
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- Joint Center for Housing Studies
- Lincoln Institute of Land Policy
- National Consumer Law Center
- National Housing Institute
- National Housing Trust
- National Low Income Housing Coalition
- National Training and Information Center
- Natn’l Community Reinvestment Coalition
- NEDAP
- New America Foundation
- PolicyLink
- Pratt Center for Community Development
- Revson Fellowship
- Smart Growth America
What Alyssa reads
- Baseline Scenario
- Ben Smith
- Bloomberg News
- Calculated Risk
- City Limits
- Consumer Law and Policy Blog
- Doug Henwood
- Felix Salmon
- Galleycat
- Housing Wire
- Mother Jones
- Next American City
- Paul Krugman
- PolicyCents
- Ryan Avent
- Shelterforce
- Street Level
- Talking Points Memo
- The Audit
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- The Big Picture
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