Intentionally or not, every state's law regarding lien priority and post-foreclosure liability allocates risk between …

I develop an equilibrium model of housing and default to jointly analyze the effects of bankruptcy and foreclosure … debt. I show that the interaction between foreclosure and bankruptcy decisions is crucial for explaining the observed cross … bankruptcy rates but increased foreclosure rates, and that the Home Affordable Refinance Program reduced foreclosures during the …

foreclosure crisis of 2006-2007. In Cook County, which includes the city of Chicago and several surrounding suburbs, foreclosure … and resulting vacant buildings continue to pose complex problems even as foreclosure rates slow and the market begins to … effects of foreclosure in African-American and minority communities. Why is this true? And what does it mean for the future of …

created by foreclosure rules in leading states such as California and Arizona and federal bankruptcy law. It explains how the …

This study analyzes the effects of state bankruptcy asset exemptions and foreclosure laws on mortgage default and … foreclosure rates across different segments of the mortgage market. We found that the effects of these legal provisions are larger … results demonstrate that the effects of variation in bankruptcy exemptions and foreclosure laws is most pronounced in the most …

Foreclosure procedures in some states are considerably swifter and less costly for lenders than in others. In light of … the foreclosure crisis, an empirical understanding of the effect of foreclosure procedures on the mortgage market is … critical. This study finds that lender-favorable foreclosure procedures are associated with more lending activity in the …

Filing for bankruptcy is the primary legal mechanism by which homeowners in foreclosure can exert control over … foreclosure laws, and home foreclosure auctions. We analyze 4,280 lower-income homeowners in the United States who were more than … foreclosure between 2003 and 2012. We identify wide variation between mortgage servicers in their likelihood of bringing the …