We assess the credit market impact of allowing mortgage "strip-down" as a foreclosure-prevention measure, where strip … effective foreclosure-prevention program, because it would have only small and transient effects on the supply of mortgage loans. …

marginally higher welfare. Finally, we study longer-run consequences for firm leverage and intermediary health when pandemics …

study longer-run consequences for firm leverage and intermediary health when pandemics become the new normal …

In response to the COVID-19 pandemic, Congress introduced foreclosure moratorium. We show that this moratorium … mortgage. Our results highlight that prompt mortgage forbearance prevents foreclosure shocks from propagating and amplifying …

linkages among variables. Importantly, price-foreclosure linkages work in both directions; foreclosures have a significant … significant, is quite small in magnitude. We demonstrate this by simulating house price changes in response to extreme foreclosure … shocks. Even under extremely pessimistic scenarios for foreclosure shocks, average U.S. house prices, as measured by the …

We assess the credit market impact of allowing mortgage “strip-down” as a foreclosure-prevention measure, where strip … effective foreclosure-prevention program, because it would have only small and transient effects on the supply of mortgage loans …

lending. According to these findings, re-introducing strip-down of mortgages in bankruptcy as a foreclosure-prevention program …