We are the first to provide closed-form analytic solutions for the joint problem of mortgage refinancing and default …. Our solution takes into account reduction in mortgage interest rates and the "cash-out" motive for refinancing. The model … predicts how long the households are likely to wait before defaulting, even if default is costless, when their mortgage goes …

From 2007 to 2009 U.S. house prices plunged and mortgage defaults surged. While ostensibly consistent with widespread … “ruthless default,” analysis of detailed mortgage and house price data indicates that borrowers do not walk away until they are …

We examine the evolution of mortgage modification terms obtained by distressed subprime borrowers during the recent …-modification mortgage outcomes. We find that principal reductions are particularly effective at improving loan outcomes, as high loan …

, and its relationship with mortgage default. We find that lender effort to collect soft information is intertwined with …

an important predictor of mortgage default. Specifically, individuals that pledge higher collateral have a lower hazard …

modifications specifically targeted to mortgage relief? The 2007–2012 financial crisis provides a unique opportunity to assess … whether bankruptcy can help homeowners avoid the negative consequences of over-indebtedness and mortgage default. This … empirical study analyzes a large, loan-level mortgage dataset to determine which variables are associated with delinquency and …

their probabilities of mortgage default. Hence, the difference between the first-time and repeat homebuyer mortgage defaults …