The effects of local demographic characteristics and state-level legislation on foreclosure rates

Ross Lawrence and Brent C. Smith

Richmond Fed Economic Brief, 2010, issue Sep, No 10-09

Abstract: Problems in the housing sector have prompted research into the causes of default by borrowers. The terms of the loans that were made, the characteristics of borrowers, and local economic conditions, among other factors, all contributed significantly to differences in default rates. State-level legislation may also have played a role by making it more costly for lenders in some states to proceed to foreclose on defaulted mortgages.

Keywords: Housing; Foreclosure; Mortgage loans (search for similar items in EconPapers)
Date: 2010
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