principle that seniority follows time priority leaves the new refinancing mortgage junior to mortgages that were junior to the …Refinancing a first mortgage puts legal principles in conflict when other, junior, liens also exist. On one hand, the … original, refinanced first mortgage. On the other hand, the principle of equitable subrogation gives the refinancing mortgage …

Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth without moving. In spite of … growth in this market, only 2.1% of eligible homeowners had RMLs in 2011. In this paper, we analyze reverse mortgages in a …

principle that seniority follows time priority leaves the new refinancing mortgage junior to mortgages that were junior to the …Refinancing a first mortgage puts legal principles in conflict when other, junior, liens also exist. On one hand, the … original, refinanced first mortgage. On the other hand, the principle of equitable subrogation gives the refinancing mortgage …

with an increased reliance on alternative mortgage products such as pay-option and interest-only adjustable rate mortgages … huge increase in mortgage default during the downturn years of 2007 to 2010. However, mortgage default was also associated … that spurred use of alternative mortgages during the housing boom and the resulting impact on default patterns, relying on …

alternative mortgage products such as pay-option ARMs and interest-only mortgages, which allow the borrower to defer principal …Rapid house-price depreciation and rising unemployment were the main drivers of the huge increase in mortgage default … during the downturn years of 2007 to 2010. However, mortgage default was also partly driven by an increased reliance on …