We use survey data to study American households' propensity to default when the value of their mortgage exceeds the … value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing … the house. Yet, 17% of households would default, even if they can afford to pay their mortgage, when the equity shortfall …

We use variation in mortgage modifications to disentangle the impact of reducing long-term obligations with no change …

We study the relationship between homebuyers' beliefs about future house price changes and their mortgage leverage … choices in the U.S. housing market. Our data combine mortgage financing information and a housing market expectations survey …

reduce debtors' mortgage payments, i.e., introducing quot;cram-downquot; of mortgages in Chapter 13. lt;brgt; lt;brgt;We find …. We develop a model of debtors' decisions to default on their mortgages and file for bankruptcy under Chapter 13 and … that 96% of Chapter 13 filers are homeowners and 79% of filers repay mortgage debt in their repayment plans; while just 9 …

We estimate a structural model of household liquidity management in the presence of long-term mortgages. Households … leverage, precautionary saving in liquid assets and illiquid home equity, debt repayment, mortgage refinancing, and default …

adjustable rate mortgages, we find that a sizable decline in mortgage payments ($150 per month on average) induces a significant …This paper investigates the impact of lower mortgage rates on household balance sheets and other economic outcomes … loans, which constitute the vast majority of U.S. mortgage borrowers. Relying on variation in the timing of resets of …