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Negative equity and foreclosure : theory and evidence

Foote, Christopher L.; Gerardi, Kristopher; Willen, Paul - 2008

Millions of Americans have negative housing equity, meaning that the outstanding balance on their mortgage exceeds their home’s current market value. Our data show that the overwhelming majority of these households will not lose their homes. Our finding is consistent with historical evidence:...

Persistent link: https://www.econbiz.de/10003713655

Saving Your home in Chapter 13 bankruptcy

White, Michelle J.; Zhu, Ning N. - 2008

"This paper examines how filing for bankruptcy under Chapter 13 helps financially distressed debtors save their homes … reduce the total amount owed. We develop a model of debtors' decisions to default on their mortgages and file for bankruptcy … and we evaluate it using a new dataset of debtors who filed for bankruptcy under Chapter 13 in 2006. We also examine the …

Persistent link: https://www.econbiz.de/10003740413

Government response to home mortgage distress : lessons from the great depression

Wheelock, David C. (contributor) - 2008

Persistent link: https://www.econbiz.de/10003783106

Juvenile delinquent mortgages : bad credit or bad economy?

Haughwout, Andrew (contributor); … - 2008

We study early default, defined as serious delinquency or foreclosure in the first year, among nonprime mortgages from the 2001 to 2007 vintages. After documenting a dramatic rise in such defaults and discussing their correlates, we examine two primary explanations: changes in underwriting...

Persistent link: https://www.econbiz.de/10003781681

Deciphering the liquidity and credit crunch 2007 - 08

Brunnermeier, Markus Konrad - 2008

Persistent link: https://www.econbiz.de/10003793431

Making sense of the subprime crisis

Gerardi, Kristopher; Lehnert, Andreas; Sherland, Shane M.; … - 2008

This paper explores the question of whether market participants could have or should have anticipated the large increase in foreclosures that occurred in 2007 and 2008. Most of these foreclosures stem from loans originated in 2005 and 2006, leading many to suspect that lenders originated a large...