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…
BABC 04-23: Mortgage lenders have long used credit scores as a basis for estimating borrower risk. This risk differentiation is reflected in the coupon rate of the loan…
William Goetzmann, Matthew Spiegel
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October 8, 2001
Homeownership increases the incentive to maintain property and neighborhood, as well as decreasing the outflow of rents from low-income zones. However these benefits are not…