This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
W09-2: Real estate owned (REO) housing resulting from the recent foreclosure crisis threatens to destabilize low- and moderate-income neighborhoods across the country.…
It has long been argued that promoting homeownership among low-income households is worthwhile because owned housing may be an important source of savings for these families…