Confessions of a Subprime Lender: An Insider’s Tale of Greed, Fraud, and Ignorance

Confessions of a Subprime Lender: An Insider’s Tale of Greed, Fraud, and Ignorance by Richard Bitner highlights many of the problems associated with the current economic mess. As a veteran of the sub-prime mortgage industry, he has given out more than his fair share of crummy credit. Despite or perhaps because of the role he played in the mortgage meltdown, Bitner brings a different perspective to the table.

One could argue that he wrote the book to make money much as he profited from bad loans. On the other hand, people can learn from him. Fortunately, that’s where Kansas City, Kansas Public Library comes in. It’s one way to get a hold of Bitner’s book without purchasing it.

In the meantime, we have tons of books at Kansas City, Kansas Public Library explaining the mortgage crisis. We even have ones on how to sell a house in this less than ideal real estate market. Need tips on how to keep your house? Yes, we have books on that too.

The thing about Bitner is that he goes into biting detail on the mortgage crunch in ways that are truly quite moving. You get stories of people who are woefully unprepared for homeownership given sizable loans with little and often no money down. Some might call it predatory lending. It seems that there were people who wanted a home more than anything. Home ownership isn’t part of the American dream for nothing. When that kind of desire meets lenders who are equally willing to hand out money, things happen. First of all, costs of home ownership go up. Since the vast majority of homebuyers do not pay cash, it can inflate prices. If almost anyone can get a mortgage for $200,000, that creates a much larger pool of perspective home buyers for a $200,000 house. On the other hand, not many people have $200,000 in cash lying around.

On Tuesday June 2, from 6-7 pm, there will be a talk on resume writing. It will take place in the first floor computer lab at the Main Library on 625 Minnesota Ave.

On Tuesday, June 9 at 6:30 there will be a talk hosted by the Workforce Partnership. This talk will focus on all the resources available in Kansas City, Kansas to job seekers. From locating computers for a job search to getting resume help, this talk will touch on some of the best ways to locate employment. The talk itself will take place on the second floor auditorium at the Main Library on 625 Minnesota Ave. Until next time, catch me in the library.