Journal Article
Credit access following a mortgage default
Abstract: Borrowers who default on mortgages return to the mortgage market at extremely slow rates. Only about 10% of borrowers with a prior serious delinquency regain access to the mortgage market within 10 years of their default. Borrowers who terminate mortgages for reasons other than default return to the market about two-and-a-half times faster than those who default. Renewed access to credit takes even longer for subprime borrowers with a serious delinquency on their record.
Keywords: Mortgages;
Access Documents
File(s): File format is text/html http://www.frbsf.org/publications/economics/letter/2012/el2012-32.html
File(s): File format is application/pdf http://www.frbsf.org/publications/economics/letter/2012/el2012-32.pdf
Authors
Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2012
Order Number: 32