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Dispossessed : how predatory bureaucracy foreclosed on the American middle class / Noelle Stout.
Author
Stout, Noelle M., 1976-
[Browse]
Format
Book
Language
English
Published/Created
Oakland, California : University of California Press, [2019]
©2019
Description
1 online resource.
Availability
Available Online
JSTOR DDA
Details
Subject(s)
Predatory lending
—
California
—
Sacramento
[Browse]
Reverse discrimination in mortgage loans
—
California
—
Sacramento
[Browse]
Collection laws
—
Moral and ethical aspects
—
California
—
Sacramento
[Browse]
Series
California series in public anthropology ; 44
Summary note
"In the aftermath of the 2008 financial crisis, more than 14 million U.S. homeowners lost their homes to foreclosure. Focusing on the hard-hit Sacramento Valley, Noelle Stout uncovers the hellish bureaucracy that organized the largest bank seizure of residential homes in U.S. history. Stout reveals the failure of banks' mortgage assistance programs, backed by over $300 billion of federal funds, to deliver on the promise of relief. Unlike the programs of the Great Depression, in which the government took on the toxic mortgage debt of Americans, these corporate bureaucracies ultimately denied 70 percent of homeowner applicants. In the voices of bank employees and 'dispossessed' homeowners, Stout exposes the tense confrontations between borrowers and banks, reveals how call center representatives felt about denying appeals, and shares the fears of families living on the brink of eviction. Stout exposes the everyday life of rising inequality--for whites who felt their middle-class life unraveling to communities of color who experienced a more precipitous and dire decline. Trapped in a maze of mortgage assistance, borrowers began to view debt refusal as a moral response to lenders. Stout shows how these seemingly mundane bureaucratic dramas came to redefine the meaning of debt and dispossession, opening the door to current contests about the meaning of indebtedness"--Provided by publisher.
Bibliographic references
Includes bibliographical references and index.
Source of description
Description based on print version record and CIP data provided by publisher; resource not viewed.
Contents
Introduction: Once sold, twice taken : a life undone
Dream it, own it : genealogies of speculation and dispossession in the valley
Put out : bank seizure at the poverty line
Robbing Peter to pay Paul : relocating the middle class
Can't work the system : the troubled sympathies of corporate bureaucrats
We shall not be moved : the shifting moral economies of debt refusal
You can't go home again.
Show 4 more Contents items
ISBN
9780520965423 ((epub))
0520965426
LCCN
2018060131
OCLC
1079399517
Statement on language in description
Princeton University Library aims to describe library materials in a manner that is respectful to the individuals and communities who create, use, and are represented in the collections we manage.
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Dispossessed : how predatory bureaucracy foreclosed on the American middle class / Noelle Stout.
id
99114559653506421