Series: IMF Staff Position Notes
Author(s): Vladimir Klyuev , and John Kiff
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 27 January 2009
Keywords: Fiscal policy, foreclosure, foreclosures, equity, liens, securitization
Home foreclosure rates have risen in the United States to the highest levels since the Great Depression. With house prices falling, lending standards tightening, unemployment rising, and interest rate resets in the...