the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We … youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …

Using comparable survey data from twelve European countries we investigate households' attitudes towards mortgage … households have a mortgage outstanding relative to countries where a sizeable part of the population uses mortgage debt, like the … reference households, and crucially so in countries with less expanded mortgage markets. Thus it appears that households …

We use survey data to study American households' propensity to default when the value of their mortgage exceeds the … value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing … the house. Yet, 17% of households would default, even if they can afford to pay their mortgage, when the equity shortfall …