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dc.contributor.authorGerardi, Kristopheren_US
dc.contributor.authorLambie-Hanson, Laurenen_US
dc.contributor.authorWillen, Paul S.en_US
dc.date.accessioned2012-01-12en_US
dc.date.accessioned2012-06-20T16:09:39Z-
dc.date.available2012-06-20T16:09:39Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/59221-
dc.description.abstractThe authors evaluate laws designed to protect borrowers from foreclosure. They find that these laws delay but do not prevent foreclosures. They first compare states that require lenders to seek judicial permission to foreclose with states that do not. Borrowers in judicial states are no more likely to cure and no more likely to renegotiate their loans, but the delays lead to a buildup in these states of persistently delinquent borrowers, the vast majority of whom eventually lose their homes. They next analyze a right-to-cure law instituted in Massachusetts on May 1, 2008. Using a difference-in-differences approach to evaluate the effect of the policy, they compare Massachusetts with neighboring states that did not adopt similar laws. They find that the right-to-cure law lengthens the foreclosure timeline but does not lead to better outcomes for borrowers.en_US
dc.language.isoengen_US
dc.publisherFederal Reserve Bank of Boston Boston, MAen_US
dc.relation.ispartofseriesPublic policy Discussion Papers, Federal Reserve Bank of Boston 11-9en_US
dc.subject.jelG21en_US
dc.subject.jelK11en_US
dc.subject.jelR31en_US
dc.subject.ddc330en_US
dc.subject.keywordforeclosureen_US
dc.subject.keywordmortgageen_US
dc.subject.keywordjudicialen_US
dc.subject.keywordpower of saleen_US
dc.subject.keywordright to cureen_US
dc.titleDo borrower rights improve borrower outcomes? Evidence from the foreclosure processen_US
dc.typeWorking Paperen_US
dc.identifier.ppn682890243en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Public Policy Discussion Papers, Federal Reserve Bank of Boston

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