Resolving Residential Mortgage Distress : Time to Modify? / Jochen Andritzky.

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Bibliographic Details
Online Access: Full Text (via IMF e-Library)
Main Author: Andritzky, Jochen
Format: eBook
Language:English
Published: Washington, D.C. : International Monetary Fund, 2014.
Series:IMF working paper ; WP/2014/226.

MARC

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245 1 0 |a Resolving Residential Mortgage Distress :   |b Time to Modify? /  |c Jochen Andritzky. 
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520 3 |a In housing crises, high mortgage debt can feed a vicious circle of falling housing prices and declining consumption and incomes, leading to higher mortgage defaults and deeper recessions. In such situations, resolution policies may need to be adapted to help contain negative feedback loops while minimizing overall loan losses and moral hazard. Drawing on recent experiences from Iceland, Ireland, Spain, and the United States, this paper discusses how economic trade-offs affecting mortgage resolution differ in crises. Depending on country circumstances, the economic benefits of temporary forbearance and loan modifications for struggling households could outweigh their costs. 
588 |a Description based on print version record. 
776 0 8 |i Print Version:  |a Andritzky, Jochen  |t Resolving Residential Mortgage Distress: Time to Modify?  |d Washington, D.C. : International Monetary Fund, 2021.  |z 9781484395745. 
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