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…
This paper analyses the performance of low-income and minority loans (LIMLs) from a large sample of fixed-rate mortgages purchased by Freddie Mac in the 1990s. Our focus is…
At the turn of the millennium, fully two-thirds of American households were owner-occupants. In addition, through the middle of the year in 2000, real home prices were rising…