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The Incredible HOLC? mortgage relief during the great depression

This paper examines the relief provided by the Home Owners' Loan Corporation (HOLC), a New Deal program that purchased and refinanced over 1 million distressed residential mortgages. I document that the HOLC paid relatively high prices for its mortgages, most likely in an effort to encourage lender participation and stimulate the housing market. The consequence was that lenders were able to remove poorly performing assets from their balance sheets at attractive prices. While this meant the HOLC's ability to seek principal reductions was somewhat limited, borrowers still received significant relief through the terms of the HOLC's more modern and forgiving mortgage contracts. .Printed journal

Ketersediaan

Call NumberLocationAvailable
JMCB4306PSB lt.dasar - Pascasarjana1
Penerbit The Ohio State University.,
Edisi -
Subjek Mortgages
studies
Lenders
Great Depression
New Deal
ISBN/ISSN 222879
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
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