Strategic Default: The Popularization of a Debate Among Contract Scholars

dc.contributor.author	Miller, Meredith R.
dc.date.accessioned	2020-09-04T17:27:02Z
dc.date.available	2020-09-04T17:27:02Z
dc.date.issued	2011-07-01
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.description.legacydownloads	2011_32_43_Miller.pdf: 666 downloads, before Aug. 1, 2020.
dc.identifier.other	5204626
dc.identifier.uri	https://hdl.handle.net/1813/70685
dc.language.iso	en_US
dc.relation.ispartofseries	Cornell Real Estate Review
dc.rights	Required Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subject	underwater
dc.subject	housing prices
dc.subject	homeowners
dc.subject	underwater homeowners
dc.subject	mortgage payments
dc.subject	strategic default
dc.subject	promissory note
dc.subject	morality
dc.subject	efficiency
dc.subject	Cornell
dc.subject	real estate
dc.title	Strategic Default: The Popularization of a Debate Among Contract Scholars
dc.type	article
local.authorAffiliation	Miller, Meredith R.: Touro College
schema.issueNumber	Vol. 9

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