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Jan 30 2009

‘Chain of Blame’ leads to guilty parties in mortgage & real estate meltdown

Published by Scott LeForce under General.

A BOOK REVIEW

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A few weeks ago Dennis Stewart, Regional Director of Realty World Northern California, Inc., gave several staff members the recent book Chain of Blame which provides a compelling chronicle of our current mortgage mess. I was sent the following review and wanted to share it with you because the review is really well done.  

So, if you don’t have time to read the book, at least sink your teeth into this review by Jayne Elizabeth Zanglein.

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2 Responses to “‘Chain of Blame’ leads to guilty parties in mortgage & real estate meltdown”

  1. Luis Cano on 31 Jan 2009 at 10:16 am

    I have no doubt CHAIN OF BLAME is a good book. A book about history, about what happened. What are we going to accomplish by blaming someone? We ourselves have to be more responsible, we have to start planning financially, personally and professionally, Instead of waiting for someone else to plan for us. I appreciate history. But I cannot live in the past and blaming other people. These guys will do it to us again in a different way. If we stick to the Fundamentals and the Basics, We will succeed
    I am responsible for the outcomes I experience.
    “The Blame Game Stops Here”

  2. BUD ZELLER on 01 Feb 2009 at 11:58 am

    “Chain of Blame”, has some good points but, seems to reflect only part of the “Tree Truth” of the “Economic/Financial Forest” realism!

    What has happened in the past few years was allowed by Federal Government regulations. Congress wanted everyone to qualify for home ownership. Today’s problems are similar to the decade of the 1980’s that put Savings and Loan Institutions out of business.

    Cycles come and go around in circles! I’ve experienced several since entering the business and teaching real estate financing since the mid-1960’s. “Creative Financing” in the 1980’s helped many overcome the 15% to 20% interest rate loan “cycle”. We can relearn and adjust to this cycle too! Use creative real estate practice in this new world.

    Now, because of what I call “FINANCING CHAOS”, who knows what, represents value and loan qualification guidelines or requirements? Many victims facing foreclosure or short-sales literally do not know what to do. Government “BAIL OUTS” are not working to assist the individual families, real estate problems. So what’s next?