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Deterring default: why some state laws decrease the probability of mortgage foreclosures

Author

Listed:
  • 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.

Suggested Citation

  • Andra C. Ghent & Marianna Kudlyak & Stephen Slivinski, 2009. "Deterring default: why some state laws decrease the probability of mortgage foreclosures," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue Sep.
  • Handle: RePEc:fip:fedreb:y:2009:i:sep:n:09-09
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    File URL: http://www.richmondfed.org/publications/research/economic_brief/2009/pdf/eb_09-09.pdf
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