The rise of delinquencies and foreclosures in a softening housing market calls for systematic studies of default behavior and efforts to minimize the default risks. Using a sample of residential mortgages made to low- to moderate-income borrowers, this paper empirically examines the impact of a...

In this working paper, Quercia, McCarthy, and Stegman use dataobtained on 874 low income, rural borrowers participating in the Section 502 Home Ownership program administered by the Farmer's Home Administration (FmHA), and apply two multivariate proportional hazard models in order to analyze...

Homeownership is the primary way most families build wealth in this country. Low-income homeowners are less likely to get that benefit because they are more likely to own older houses that are more costly to operate and need more essential maintenance. Rapidly escalating home energy costs are...

The lack of industrywide data on homeownership education and counseling (HEC) programs has severely limited evaluation. In particular, very little evidence exists on the relationship between HEC completion and loan prepayment, an outcome of interest to both mortgage lenders and consumer...

Homeownership counseling encompasses several educational activities. Early approaches focused on reducing the risk of default and foreclosure among participants in government-assisted mortgage programs, but more recent approaches have focuesd on increasing homewonership opportunities among...

This study extends the theory of planned behavior (TPB; Ajzen, 1991) to the domain of homeownership. We used a four-year longitudinal dataset of 919 low-and-moderate income (LMI) renters to explore factors associated with greater homeownership intentions and actual home purchases. Our findings...

The future of American homeownership is being pushed in contradictory directions by demographic changes. The aging of the Baby Boomers would support higher levels of homeownership, but the increasing minority share of the population and the persistent racial gap in homeownership acts to reduce...