Confessions of a Forecloser: Case Studies From Inside the Foreclosure Industry

Authors: Jason Eliaser*,
Topics: Legal Geography
Keywords: legal geography, displacement, foreclosure, finance, California, housing
Session Type: Paper
Day: 4/5/2019
Start / End Time: 1:10 PM / 2:50 PM
Room: Roosevelt 0, Marriott, Exhibition Level
Presentation File: No File Uploaded

Drawing on my experience as a practicing attorney representing both large financial institutions and homeowners in foreclosure-related litigation through the foreclosure crisis and beyond, I will analyze the culture of the foreclosure industry, how place and space amplified the foreclosure crisis, and how predatory lending practices disproportionately harmed (and continue to harm) marginalized individuals and communities. This talk sits at the intersections of law and geography and draws upon the politics of displacement to analyze the impacts of the finacialization of the real estate industry. I will use case studies drawn from the California counties of Riverside, San Bernardino, and Orange to examine how the foreclosure crisis disparately impacted different economic and racial populations, and in particular how informal foreclosures (alternatives to foreclosure which nonetheless resulted in displacement) versus formal foreclosure and state-enforced eviction impacted different communities. These case studies highlight how the perverse regimes of incentivization that contributed to the foreclosure crisis continue to exist in the real estate and financial industries even now, ten years following the crisis.

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