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Federal Reserve Bank of Richmond
Richmond Fed Economic Brief
Deterring default: why some state laws decrease the probability of mortgage foreclosures
Andra C. Ghent
Marianna Kudlyak
Stephen Slivinski
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.


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Andra C. Ghent & Marianna Kudlyak & Stephen Slivinski, "Deterring default: why some state laws decrease the probability of mortgage foreclosures" , Federal Reserve Bank of Richmond, Richmond Fed Economic Brief, issue Sep, 2009.
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Keywords: Consumer finance ; Financial institutions ; Mortgage loans
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