Foreclosure filings and sheriff's sales experienced by low‐income first‐time home buyers
Harriet Newburger
Housing Policy Debate, 2006, vol. 17, issue 2, 341-387
Abstract:
This article examines how well a group of low‐income households that became first‐time homeowners in Philadelphia in 1995 met their mortgage obligations over the seven years after purchase, as reflected in key indicators such as rates of foreclosure filings and sheriff's sales. It also considers whether participation in low‐income homeownership programs operated by the Delaware Valley Mortgage Plan (DVMP)—a local bank consortium—and the Pennsylvania Housing Finance Agency (PHFA) affected these rates. The overall incidence of foreclosure filings and sheriff's sales among sample households is quite high for both program participants and nonparticipants. However, DVMP and PHFA participants had a lower incidence of foreclosure filings and sheriff's sales than nonparticipant households did. Program effects, particularly in the case of sheriff's sales, are concentrated among that part of the sample whose 1995 incomes were above 125 percent of the poverty line.
Date: 2006
References: Add references at CitEc
Citations:
Downloads: (external link)
http://hdl.handle.net/10.1080/10511482.2006.9521573 (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:taf:houspd:v:17:y:2006:i:2:p:341-387
Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RHPD20
DOI: 10.1080/10511482.2006.9521573
Access Statistics for this article
Housing Policy Debate is currently edited by Tom Sanchez, Susanne Viscarra and Derek Hyra
More articles in Housing Policy Debate from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().