This paper examines the impact of state laws on foreclosure starts using mortgage, borrower, and\neconomic data at the state level. Several models are studied to capture the impact of state-specific\nforeclosure laws and statutes, i.e. loss mitigation requirement before foreclosure, right to cure,\nand right to reinstate before sale. Data sources include Mortgage Bankers Association, Home\nMortgage Disclosure Act, US Census, National Consumer Law Center-Survey of State Foreclosure\nLaws, and Experian. The study shows that statewide pre- and post-sale foreclosure-prevention\nstatutes impact foreclosure starts. The results indicate statutory programs involving housing\nemergency assistance funds statistically slow foreclosure starts.
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