We estimate a model of foreclosure using a data set that includes every residential mortgage, purchase-and-sale, and … foreclosure transaction in Massachusetts from 1989 to 2008. We address the identification issues related to the estimation of the … occurred in Massachusetts between 2005 and 2008 and conclude that the foreclosure crisis was primarily driven by the severe …

This paper takes a skeptical look at a leading argument about what is causing the foreclosure crisis and what should be … empirical evidence supporting the hypothesis that the efficiency of foreclosure for investors is a more plausible explanation …

owned by minority residents. Furthermore, we argue that the particularly dire foreclosure situation in urban neighborhoods …

homeowners who used subprime mortgages to buy their homes, and estimate how often these borrowers end up in foreclosure. In order … purchase mortgage end up in foreclosure almost 20 percent of the time, or more than 6 times as often as experiences that begin …

residents. Furthermore, we argue that the particularly dire foreclosure situation in urban neighborhoods actually makes it …

This paper takes a skeptical look at a leading argument about what is causing the foreclosure crisis and what should be … show, both theoretically and empirically, that the efficiency of foreclosure for investors is a more plausible explanation …

magnitude of the differences in foreclosure rates between securitized and nonsecuritized loans. Second, we argue that early … foreclosure rates as a measure of renegotiation and argue that explicitly using modification rates of delinquent mortgages is a …, willingness to renegotiate, or unobserved heterogeneity remains an open question. -- foreclosure ; mortgage ; house prices …

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 … to combat foreclosure and then briefly summarizes the main U.S. programs of the past few years. By most analyses, the …

Current explanations for the high rate of default and foreclosure in the U.S. emphasize house price fluctuations and … lax lending criteria. Another explanation for default and foreclosure, which has generally been neglected in the academic … proposed here are important for at least three reasons. First they can document the role of fraud in the mortgage foreclosure …

owned by minority residents. Furthermore, we argue that the particularly dire foreclosure situation in urban neighborhoods …