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dc.contributor.authorMiller, Meredith R.
dc.date.accessioned2020-09-04T17:27:02Z
dc.date.available2020-09-04T17:27:02Z
dc.date.issued2011-07-01
dc.identifier.other5204626
dc.identifier.urihttps://hdl.handle.net/1813/70685
dc.description.abstract[Excerpt] Given the recent, sharp decline in housing prices,1 an estimated 20% of homeowners with a mortgage are “underwater,”2 meaning that these homeowners have borrowed more than their homes are currently worth. Of those underwater homeowners, many can still afford to make their monthly mortgage payments. Given the negative equity in their homes, however, they are faced with the decision whether to carry out a “strategic default.”3
dc.language.isoen_US
dc.relation.ispartofseriesCornell Real Estate Review
dc.rightsRequired Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subjectunderwater
dc.subjecthousing prices
dc.subjecthomeowners
dc.subjectunderwater homeowners
dc.subjectmortgage payments
dc.subjectstrategic default
dc.subjectpromissory note
dc.subjectmorality
dc.subjectefficiency
dc.subjectCornell
dc.subjectreal estate
dc.titleStrategic Default: The Popularization of a Debate Among Contract Scholars
dc.typearticle
schema.issueNumberVol. 9
dc.description.legacydownloads2011_32_43_Miller.pdf: 666 downloads, before Aug. 1, 2020.
local.authorAffiliationMiller, Meredith R.: Touro College


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