The IRE website will be unavailable while we complete routine maintenance on Friday, April 16 from 8-10 am CT.
IRE favicon

Shop

Resource ID: #21564
Subject: Real Estate
Source: Commercial Appeal (Memphis, Tenn.)
Affiliation: 
Date: Dec. 12 - 13

$0.00

Description

This two-part investigation shows how Boshwit Brothers Mortgage Co, a longtime Memphis mortgage company specializing in loans to the poor, used Tennessee's lender-friendly foreclosure laws to take possession of 189 houses where it had made mortgages. It seized the property when the owners couldn't meet the high-interest payments. Many of the properties were converted to rentals and entered in a federal rent subsidy program that nets the firm $240,000 a year.

141 Neff Annex   |   Missouri School of Journalism Columbia, MO 65211   |   573-882-2042   |   info@ire.org   |   Privacy Policy
apartmentpenciluserscalendar-fullcrossmenuwarning linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram