Briefing
Deterring default: why some state laws decrease the probability of mortgage foreclosures
Abstract: Many states give mortgage lenders strong legal means by which to pursue debt collection in the event of a mortgage default. In those states, probability of default is lower and the forms the default takes are often quite different from a costly conventional foreclosure.
Keywords: Consumer finance; Financial institutions; Mortgage loans;
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2009
Issue: Sep
Order Number: 09-09