The Home Affordable Modification Program

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

Chapter 19 in The Subprime Crisis:Lessons for Business Students, 2017, pp 161-167 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Ensuing the drastic spike in foreclosures, which was initiated in 2008, housing prices plummeted and the housing market faced a dire need to deal with foreclosures in a way that would help to prevent them. The federal government intervened with targeting foreclosure avoidance. Understanding the rationale behind this policy is essential in our analysis of governments’ role in the economy as more than just a regulatory body, but as an institution responsible for implementing reactionary measures to catastrophic events such as the subprime mortgage crisis…

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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