<title>Abstract</title> This article documents the growing importance of preventive servicing—business practices that emphasize early intervention in delinquency and default management practices that also help financially troubled borrowers avoid foreclosure. We suggest that the loan servicing side of the...

<title>Abstract</title> There are growing concerns about the way predatory mortgages erode housing equity. We examine another potential impact: the relationship between abusive loan terms and foreclosure. Do predatory characteristics increase the likelihood of foreclosure once other risk factors are taken into...

This paper provides an account of recent urban change and policy initiatives in the US. The paper describes how processes of global change have impacted upon economic activity and social life in the US, leading to the decline and isolation of inner-city areas. The urban, housing and community...

The housing consumption of renters in small cities is examined using a constant elasticity model estimated from cross-sectional data for a sample of 500 households. Permanent income is estimated using a cohort averaging technique which adjusts for differential expectations of future incomes. The...

A "payday loan" is a short-term loan made for seven to 30 days for a small amount. Fees charged on payday loans generally range from $15 to $30 on each $100 advanced. A typical example would be that in exchange for a $300 advance until the next payday, the borrower writes a post-dated check for...

The tremendous growth in the demand for very small, short-term loans by credit constrained households is being largely filled by companies offering payday loans. This article explores the explosive growth of payday lending as a source of short-term consumer credit in low- and moderate-income...