Bank of America Home Loans

of 1929. Banks started loaning out too much money and were not getting their money back from the loans…

up the great recession: we're still feeling the ripple effect. Many cities have been reduced to rubble where there was once great industry and a thriving community with a promise of a greater, more successful tomorrow. The American dream of owning a home, cars and property reduced to nothing more than just that, a dream. As we witnessed in Anthony Bourdain's documentary, "Parts Unknown": Detroit, one of the greatest cities of progress and manufacturing now covered with graffiti and littered,…

the federal reserve can set interest rates lower creating money cheaper for people to take out loans from banks at anytime in exchange to 20-30 year commitment mortgages. This allow Americans to buy households ,make business investments and others that meant more production and more available jobs. However, leading into years of long record profits at banks; They were not longer wanting to give away loans for people not able to paid their debts.This created about 6.1 % job loss , dropped family…

our economy more structurally sound was the new deal. After the great depression, the most advantageous programs made were the civilian conservation corps, civil works administration, federal housing administration, federal security agency, home owner's loan corporation, national industrial recovery act, public works administration, social security act, Tennessee valley authority, and finally, the works progress administration. The civilian conservation corps (1933-1942) was…

The continuing rise of economic inequality and wealth inequality in America is one of the biggest issues in the country. Currently the top five percent in America hold seventy-four percent of the country’s wealth, leaving the other ninety-five percent of Americans are struggling financially to survive. In this article, How Experts Would End Inequality if They Ran America, written by Stein, there are several different explanations on how to address the rising income inequality in the U.S., the…

the great depression there were already 18 million poor, elderly, disabled and single mothers living at a basic survival level in America. Hurried, unplanned urbanization led to the lower class Americans living in tall, narrow buildings in congested and unhealthy living conditions. Ethnic enclaves housed members referred to as ghettos. Millions of families lost their homes and took up residence in shantytowns made of tents and old cars. They were named “Hoovervilles”, which mocked the…

unemployment Technology stocks and mortgage loans contributed in the in economic bubbles. This so called “economic bubbles” occur when prices for stocks or securities rise above their actual values. The subprime bubble of 2006-2007 ended when borrowers were not able to continue paying subprime mortgage loans, loans to borrowers, who did not qualify with mainstream lenders. This resulted in a wave of foreclosures, with banks repossessing and selling homes in which buyers could not meet their…

Student loan debt is one very important topic when referring to a college education and life afterwards. Over the years, many students have been left to face problems socially, economically, and psychologically after their graduation. Many expect to get high paying jobs and a stable income, to payback their loans. However, that may not be as easy as it seems. Student loan debt is beginning to take over. Student loan debt does not only effect an individual separately but can also affect…

This was a part of the global financial liberalization which opened up banks around the world to competition. Global liberalization was the cause of the Asian financial crisis in 1997 which started in Indonesia and spread to the rest of the world (pg.140). Many stock markets crashed and the economic growth reversed due to the…

market growth, among others. Owning a house in the suburbs became a new social definition for whiteness; and racial instability has been the result of the government’s slow transition to social equality. On the 1910s immigrants were the ones in America running the factories and mines. They came to the United States to establish in a society that already had a history of racial inequality towards blacks and minorities. The terminology of the…