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This study identifies a severe gap between the financial backlash borrowers believe awaits them after strategic mortgage default and the reality that lenders rarely pursue deficiency judgments. This, coupled with the social norm finding that borrowers widely view strategic default as immoral,...
Persistent link: https://www.econbiz.de/10013087290
theory where the capacity level is given. We consider a monopoly setting as well as a duopoly setting. Our main results are …
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This study identifies a severe gap between the financial backlash borrowers believe awaits them after strategic mortgage default and the reality that lenders rarely pursue deficiency judgments. This, coupled with the social norm finding that borrowers widely view strategic default as immoral,...
Persistent link: https://www.econbiz.de/10013051040
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