Evaluating Real Mortgage Mitigation Options
نویسنده
چکیده
We provide an appropriate comprehensive model for assessing the likely contribution of current US government programs to alleviate homeownership financial distress. In a simulation of five available mortgage distress termination options plus continuation and repayment, the HAMP program appears to foster mortgage mitigation, given our parameter value assumptions, primarily through enabling and encouraging voluntary house sales. However, conclusive policy appraisal awaits satisfactory empirical work.
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