The notion that equity is available to both lenders and borrowers in foreclosure is widely accepted. Yet, during times of a mortgage crisis, equity does not act to avoid certain injustices. This article, premised on the historical and modern applications of equity, suggests increasing the role of equity without completely disregarding contractual obligations between lenders and borrowers.
Equity in Times of Mortgage Crisis, 48 REAL PROP. TR. & EST. L.J. 543