A Crisis of Missed Opportunities? Foreclosure Costs and Mortgage Modification During the Great Recession
Published in Review of Financial Studies, 2021
Recommended citation: Review of Financial Studies. 2021. Citation /files/Crisis of Missed Opportunities Foreclosure Costs and Mortgage Modification During the Great Recession.pdf
- Key Highlight: The California Foreclosure Prevention Laws, policies that increased the time and pecuniary costs of foreclosure, prevented 250,000 California foreclosures (a 20% reduction) and created $300 billion in housing wealth.