…part from relaxed lending standards and the housing bubble created by the ballooning subprime mortgage market. With millions of borrowers living post-foreclosure lives, it is essential for policy makers, lenders…
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Facebook Twitter LinkedIn Reddit Email Through ways both subtle and obvious, government touches the lives of most Americans. There are both indirect social programs, such as the Home Mortgage Interest…
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Facebook Twitter LinkedIn Reddit Email Many fault the bursting of the U.S. housing bubble for triggering the “Great Recession” of 2007-2008. Because of relaxed credit standards and exotic mortgages, tens…
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…was more mortgage principal and an increase in overall household debt. (Research shows that changes in home values consistently have a bigger effect on household consumption — the “wealth effect”…
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…keep food on the table and pay the mortgage.” But in general, “access to payday credit reduces well-being” by encouraging borrowers to over-consume and spend less on such vitals as…
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…patterns of Florida homeowners who took out mortgage loans between 2005 and 2007 — the first few years of the nationwide housing crisis that prompted the most recent economic recession….
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…the home mortgage system collapsed during the Great Depression, the federal government stepped in and established the Federal Housing Administration in 1934. The agency’s mortgage insurance and financial assistance for…
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…with a comma: “He left for Bhutan in October 1937.” Set off years with commas when there is a specific date: “The mortgage was paid off April 1, 1998, and…
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…context is provided by the cases of Drexel Burnham, American Home Mortgage, Countrywide Financial and Long Term Capital Management, as well as that of Lehman Brothers itself. The evidence presented…
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…unaffordable mortgages and carry debt. A 2010 paper by the Brookings Institution, “Financial Literacy: What Works? How Could It Be More Effective?” looks at existing research on a range of…
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