How does negative housing equity interact with the decision to default?

Screenshot 2014-07-18 11.25.06

 

Michael Seiler thinks it might be this way… see his paper below for more details.

 

Seiler, Michael Joseph, Determinants of the Strategic Mortgage Default Cumulative Distribution Function (June 20, 2014). Available at SSRN: http://ssrn.com/abstract=2465059 orhttp://dx.doi.org/10.2139/ssrn.2465059

 

 

 

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