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During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house-price declines. We find that financial distress among U.S. households amplified the sensitivity of consumption to house-price shocks. We uncover two essential facts: (1) the...
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foreclosure crisis. Research on defaults was advanced both theoretically and empirically by the time the crisis began, but …
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Reconsidering bankruptcy mortgage modifications as one among several solutions to weather the foreclosure crisis …
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This paper examines what happens to mortgages in the subprime mortgage market once foreclosure proceeding are initiated …
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We conduct comprehensive analyses on whether and how the judicial foreclosure procedure helps subprime mortgage … borrowers to reinstate their delinquent loans outside foreclosure liquidation. Even though the transition rates of various exit … opportunities for delinquent borrowers to reinstate their loans outside foreclosure liquidation, especially during a housing market …
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for a state with an average home equity exemption, the subprime foreclosure rate after BAR rose 11 percent relative to …
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