BY IGOR ROITBURG, MANAGING DIRECTOR & ED BOLTZ, PARTNER, LAW OFFICES OF JOHN T. ORCUTT
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Preparing for the Post-COVID Resurgence of Home Mortgage Modifications
BY IGOR ROITBURG, MANAGING DIRECTOR & ED BOLTZ, PARTNER, LAW OFFICES OF JOHN T. ORCUTT
Click here for the article:
Preparing for the Post-COVID Resurgence of Home Mortgage Modifications
Mortgage cramdown has been proposed as a mechanism to avoid mortgage foreclosures in times of crisis. In this restructuring, the underwater portion of the mortgage is treated as unsecured debt and can be discharged during Chapter 13 bankruptcy. To quantify the ex-post effects of bankruptcy discharge in cramdown courts, we use a new dataset of district courts that allowed mortgage cramdown over the period from 1989 to 1993.
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After several years in development by the North Carolina Bar Association Bankruptcy Section,
This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent foreclosure crisis. Research on defaults was advanced both theoretically and empirically by the time the crisis began, but economists have moved the frontier further by improving data sources, building dynamic optimizing models of default, and explicitly addressing reverse causality between rising foreclosures and falling house prices.