In this paper we examine the relationship between homeowners' bankruptcy decisions and their mortgage default decisions … mortgages. Bankruptcy and foreclosure similarly may be either substitutes or complements. In fact we show that both …The paper argues that these relationships have important public policy implications. In particular, foreclosures have …

bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the …This paper uses a structural model to show that foreclosures played a crucial role in exacerbating the recent housing … market for non-foreclosures and reduce price and sales volume by eroding lender equity, destroying the credit of potential …

mortgage default factors associated with the economic cycle, such as negative equity, completely account for the foreclosure … reinterpretation of the U.S. foreclosure crisis as more of a prime, rather than a subprime, borrower issue. Moreover, traditional …, race, initial income, and speculators did not play a meaningful role, and initial leverage only accounts for a small …

unique design reflecting the subprime mortgage design. Subprime securitization tranches were often sold to CDOs, which were …

asymptotically normal. Applying my estimator to the subprime mortgage crisis, I quantify what caused the foreclosure rate to triple … standards, with a 10% decline in home prices increasing subprime mortgage default rates by 50% …

Sporn, and Joseph Tracy; 3. A Spatial Look at Housing Boom and Bust Cycles / David Genesove and Lu Han; 4. Mortgage … Joseph Gyourko; 8. The Future of the Government-Sponsored Enterprises: The Role for Government in the US Mortgage Market …

legislation in U.S. economic history: the American Housing Rescue and Foreclosure Prevention Act of 2008 and the Emergency … during the crisis. Representatives from districts experiencing an increase in mortgage default rates are significantly more … likely to vote in favor of the AHRFPA. They are precise in responding only to mortgage related constituent defaults, and are …

How much of the recent rise in foreclosures can be explained by the large number of high-leverage mortgage contracts … originated during the housing boom? We present a model where heterogeneous households select from a set of mortgage contracts and … choose whether to default on their payments given realizations of income and housing price shocks. The set of mortgage …

.S. household leverage from 2002 to 2006 and the increase in defaults from 2006 to 2008. Employing land topology-based housing …