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In or Out of Mortgage Trouble? A Study of Bankrupt Homeowners

posted by Melissa Jacoby

This is a newly published paper  in the American Bankruptcy Law Journal that I was lucky to work on with Daniel McCue and Eric Belsky at the Joint Center for Housing Studies at Harvard University. Using previously unexamined data in the 2007 Consumer Bankruptcy Project, we study what makes homeowners more or less likely to have mortgage troubles as they head into bankruptcy. Although much can be said about the econometric analysis, for now I wanted to mention quickly that the paper includes descriptive details about bankrupt homeowners (debtor-reported) such as numbers of missed mortgage payments, use of adjustable rate mortgages, mortgage broker use, mobile homes, and refinancing or home equity lines of credit. So please check it out!   

Comments

Great paper and thank you.

Would be very interested in the issue being faced more regularly these days with bankrupt homeowners unable to get out from under their homes even though the debt has been discharged in bankruptcy.

See this reader question as an example. http://getoutofdebt.org/33462/filed-chapter-13-bankruptcy-but-mortgage-company-did-not-foreclose-house-still-in-my-name-and-is-now-a-public-nuisance-jc

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