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…
BABC 04-10: Spending financed by home equity extraction helps smooth household consumption and bolster the economy in economic downturns, but may reduce wealth…