They used to call it "loan workout"

It has never been unusual for borrowers to run into difficulty, and sometimes it becomes clear that a loan will never be repaid in full. The lender's job then is to recover as

Interview with AFFIL executive director Jim Campen

Early in the subprime lending collapse, Wise Bread posted a report from Americans for Fairness in Lending explaining how the subprime lending boom hurt everyone. Since it's a

How the subprime lending boom hurt everybody

Among the Wise Bread community, I get the sense that there's a kind of "pox on both their houses" attitude to the problems in the subprime mortgage markets. People who worked thro

How to Avoid Foreclosure

What would you do if you were about to lose your home? What would you be willing to do to keep it? Is it even possible to keep it once you've missed a few payments? [more]