This paper examines the impact of interest-rate and down-payment subsidies on default rates and losses given default, and finds that down-payment subsidies create successful homeowners at a lower cost than interest-rate subsidies.Mortgage loans ; Default (Finance) ; Housing - Finance

O. Emre Ergungor

English

Research Papers in Economics

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Homeownership for the long run: an analysis of homeowner subsidies

http://www.clevelandfed.org/research/Workpaper/2010/wp1021.pdf

Homeownership for the long run: an analysis of homeowner subsidies

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Research Papers in Economics