Gerardi, Kristopher; Li, Wenli - In: Economic Review 95 (2010)
In 2007, the United States began to experience its worst housing and foreclosure crisis since the Great Depression. In … response, policymakers have been devising foreclosure prevention plans, most of which focus on loan modifications. This article … begins with an overview of the different loss mitigation tools that mortgage lenders and policymakers have used in the past …
