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…
UCC08-15: We find that the foreclosure process varies widely across states and that the costs associated with foreclosure rise significantly with the length of the…
Raphael Bostic, Kathleen Engel, Patricia McCoy, Anthony Pennington-Cross, Susan Wachter
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February 1, 2008
UCC08-9: The subprime mortgage market, which consists of high-cost loans designed for borrowers with weak credit, has grown tremendously over the past ten years. Between…