Post-foreclosure Experiences

Jaime Luque
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Jaime Luque: 1University of Wisconsin-Madison, USA

Chapter 14 in The Subprime Crisis:Lessons for Business Students, 2017, pp 115-121 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Foreclosures can be a catastrophic experience for households. Aside from the experience of losing the physical asset that is a home, households must also deal with the repercussions that are caused by defaulting on a mortgage. The destruction that a foreclosure leaves behind is reflected in the loss of wealth as well as the negative implications it has on individuals’ credit scores. It is important to understand what households must face after experiencing a foreclosure, as consumer behavior is greatly affected…

Keywords: Subprime Crisis; Great Recession; 2009 Recession; Mortgage; Financial Market; Preventing Recession; 2009 Crisis; Interest Rates (search for similar items in EconPapers)
JEL-codes: G01 G1 (search for similar items in EconPapers)
Date: 2017
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