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