mortgage for strategic reasons, either because they are "underwater" or to preserve access to credit from other types of debt …-prime mortgage borrowers prioritize payments on their monthly mortgage over credit card debt obligations over a nine year period … to prioritize payments on mortgage debt over credit card payments. As of late 2008, in contrast, the similar consumers …

We study the distribution of savings from mortgage refinancing across income groups during the COVID-19 pandemic …. Between February and June 2020, the difference in savings from refinancing between high- and low-income borrowers was 10 times … estimate a difference of $5 billion in savings from refinancing between the top quintile of the income distribution and the …

The meltdown in residential real-estate prices that commenced in 2006 resulted in unprecedented mortgage delinquency … following modifications. While modification terms are more favorable for weaker borrowers, greater reductions in mortgage … point decline in mortgage interest rate is associated with a nearly 4 percentage point decline in default probability. This …

The meltdown in residential real-estate prices that commenced in 2006 resulted in unprecedented mortgage delinquency … following modifications. While modification terms are more favorable for weaker borrowers, greater reductions in mortgage … point decline in mortgage interest rate is associated with a nearly 4 percentage point decline in default probability. This …

interventions, pass-through of monetary policy through household balance-sheets and design of the mortgage market …Using loan-level mortgage data merged with consumer credit records, we examine the ability of the government to impact … mortgage refinancing activity and spur consumption by focusing on the Home Affordable Refinance Program (HARP). The policy …