The foreclosure crisis in 2008: predatory lending or household overreaching?

Emmons, William R.; Fogel, Kathy; Lee, Wayne Y.; Ma, Liping; Rorie, Deena; Yeager, Timothy J.

Journal Article

The foreclosure crisis in 2008: predatory lending or household overreaching?

Abstract: At least early in the financial crisis, the high rate of foreclosures seemed to be due more to households' overreaching than to predatory lending. A disproportionate number of those being foreclosed on were well-educated, well-off and relatively young people.

Keywords: Mortgage loans; Housing - Finance; Foreclosure;