Stop the Foreclosures, Stop the Crisis: A Conversation with Professor Chris Mayer
Professor Chris Mayer discusses his outlook for the housing crisis in 2009 and argues that the best way to curb foreclosures is to provide servicers of securitized mortgages with financial incentives and remove the legal barriers to loan modification. “There is no alternative to acting now,” Mayer says. “As a country, we need to stand up and say enough is enough.”
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Watch video by question
- How big is the foreclosure threat and who is the most vulnerable?
- The loan modification proposal calls for two bold steps. How will these components work?
- What’s the cost of the loan modification proposal? Can taxpayers afford it?
- How does this proposal fit into the larger banking crisis?
- How does the loan modification proposal complement the earlier Hubbard-Mayer proposal?
- What’s the alternative if the government should fail to act on some kind of foreclosure relief plan?
