: bankruptcy, foreclosure, eviction, and home sale. Rates of these adverse financial events peak around the time of disability … 0.81 percentage point (30 percent), and the likelihood of foreclosure and home sale among homeowners falls by 1 …

bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the … the model fit both national and cross-sectional moments better than a model without foreclosure. When calibrated to the …

functions. We measure the impact of foreclosures on new mortgage lending using a panel of all B&Ls in 4 states. The foreclosure …

frictions could have reduced the relative foreclosure rate by more than half and resulted in up to twice as fast recovery of …

How costly is foreclosure? Estimates of the social cost of foreclosure typically focus on financial costs. Using random … evidence of significant non-pecuniary costs of foreclosure, particularly for foreclosed-upon homeowners. For all homeowners (IV … and PSM), foreclosure causes housing instability, reduced homeownership, and financial distress. For marginal homeowners …

. Comparing zip codes close to state borders with differing foreclosure laws, we show that foreclosure propensity and housing … scores, income, or education levels. The increase in foreclosure rates in non-judicial states persists for at least five …

possibility that the former would be a more durable foreclosure prevention tool. The programs also impose marginal income tax …

mortgages. Bankruptcy and foreclosure similarly may be either substitutes or complements. In fact we show that both … foreclosure rates raise homeowners' probability of foreclosure. We provide estimates of the size of these effects …

This paper takes a skeptical look at a leading argument about what is causing the foreclosure crisis and distills some … and empirical evidence supporting the hypothesis that the efficiency of foreclosure for investors is a more plausible …