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 …

. 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 …

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 …

linkages among variables. Importantly, price-foreclosure linkages work in both directions; foreclosures have a significant … significant, is quite small in magnitude. We demonstrate this by simulating house price changes in response to extreme foreclosure … shocks. Even under extremely pessimistic scenarios for foreclosure shocks, average U.S. house prices, as measured by the …

We develop and estimate a unified model of house prices, loan-to-value ratios (LTVs), and trade and foreclosure … property and produce selection-corrected estimates of historical LTVs and foreclosure behavior, both showing large …

hospital and emergency room visits from four states that were among the hardest hit by the foreclosure crisis. We find that …