Working Paper

Homeownership for the long run: an analysis of homeowner subsidies


Abstract: This paper examines the impact of interest-rate and down-payment subsidies on default rates and losses given default, and finds that down-payment subsidies create successful homeowners at a lower cost than interest-rate subsidies.

Keywords: Mortgage loans; Default (Finance); Housing - Finance;

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Working Papers (Old Series)

Publication Date: 2011-01-01

Number: 1021