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Resolving Residential Mortgage Distress:Time to Modify?

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by Jochen R. Andritzky
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Resolving Residential Mortgage Distress:Time to Modify? by Jochen R. Andritzky

In housing crises, high mortgage debt can feed a vicious circle of falling housing prices and declining consumption and incomes, leading to higher mortgage defaults and deeper recessions. In such situations, resolution policies may need to be adapted to help contain negative feedback loops while minimizing overall loan losses and moral hazard. Drawing on recent experiences from Iceland, Ireland, Spain, and the United States, this paper discusses how economic trade-offs affecting mortgage resolution differ in crises. Depending on country circumstances, the economic benefits of temporary forbearance and loan modifications for struggling households could outweigh their costs.

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Ebook Details
Pages: 37
Size: 1.1 MB
Date published:   2014
ISBN: 9781498322348 (DRM-EPUB)

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This product is listed in the following categories:

Nonfiction > Business & Economics
Nonfiction > Business & Economics > Finance

This author has products in the following categories:

Nonfiction > Business & Economics > Economics > Macroeconomics
Nonfiction > Business & Economics
Nonfiction > Business & Economics > Finance
Nonfiction > Business & Economics > International

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