Predatory Equity: The Survival Guide
During the boom, a new breed of speculator used private equity and oversized bank loans to buy up affordable housing. They tried to make a quick profit by converting it to luxury housing – putting over 65,000 families and their affordable apartments at risk. Post-crash, these predatory equity speculators can’t pay off their loans or sell their buildings. Foreclosure looms. Predatory Equity: The Survival Guide explains the financial mechanics of predatory equity and how to prevent it from happening again in the next boom. It provides tenants, advocates, and policymakers with information on tools like loan modifications and preservation short sales to save the hundreds of buildings in imminent danger of foreclosure. The poster was produced through a collaboration between Tenants & Neighbors, the Urban Homesteading Assistance Board, and Glen Cummings.