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 … foreclosure rates raise homeowners' probability of foreclosure. We provide estimates of the size of these effects …

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 …

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 …

Mortgage cramdown enabled bankruptcy judges to discharge the underwater portion of a mortgage during Chapter 13 … filing in a cramdown court substantially decreases the five-year foreclosure rate, the propensity to move, and the crime rate …

We analyze mortgage lenders' behavior with respect to shale gas risk during the period of the U.S. shale gas boom … scrutiny, to $3,137, or 1.6% of profit earned on an average mortgage, afterwards. Our approach provides an alternative to the … decisions of mortgage professionals …

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% …

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 …Foreclosures led to severe disruptions in home mortgage lending during the recent Great Recession and the Great … overhang explains about 30 percent of the drop in new mortgage lending by B&Ls as the housing crisis intensified between 1930 …

Federal mortgage modification initiatives, targeting millions of borrowers, are intended to prevent foreclosures of … possibility that the former would be a more durable foreclosure prevention tool. The programs also impose marginal income tax …