Jesse: The Japanese Stagnation — featuring Recourse Mortgages <b>…</b>
Posted on July 4, 2009
Filed Under Consequences of foreclosure |
Japanese mortgages are recourse loans, meaning the borrower is still liable even after foreclosure. Depending on the state, most banks in America offer. … A person who wouldn’t normally be able to buy a home can more easily buy one, and as we have seen with the subprime loan fiasco in the United States, lowering the bar for home ownership can have disastrous consequences. People who bought homes in the ’90s under the Flat 35 scheme with “relaxed” (yutori) interest rates …
Source:Jesse: The Japanese Stagnation — featuring Recourse Mortgages <b>…</b>
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