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Foreclosures of Subprime Mortgages in Chicago: Analyzing the Role of Predatory Lending Practices
Morgan J. Rose
(Author)
·
Createspace Independent Publishing Platform
· Paperback
Foreclosures of Subprime Mortgages in Chicago: Analyzing the Role of Predatory Lending Practices - Rose, Morgan J.
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Origin: U.S.A.
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Synopsis "Foreclosures of Subprime Mortgages in Chicago: Analyzing the Role of Predatory Lending Practices"
A dramatic rise in subprime foreclosures over the past several years has led to calls for restrictions of, or prohibitions against, a range of lending practices loosely termed "predatory." Several cities and states have enacted legislation or regulations aimed at eliminating predatory practices, and some advocacy groups have endorsed action nationally. This working paper uses data from the Chicago metropolitan area to examine the impact of two frequently cited predatory lending practices, long prepayment penalty periods and balloon payments, on the probability of foreclosure on subprime refinance and home purchase mortgages. This paper also examines the impact of low- and no-documentation, and how combinations of low- and no-documentation, long prepayment penalty periods, and balloon payments affect foreclosure rates.
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All books in our catalog are Original.
The book is written in English.
The binding of this edition is Paperback.
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