’ moral intuitions about strategic default on a mortgage contract. The central premise of this paper is that when homeowners … entities than with local, identifiable parties. In the world of the mortgage contract, people are less averse to default when … are more willing to breach contracts that contemplate and specify the consequences of breach within the contract itself …

This paper studies mortgage contract choice in US history using a first-of-its-kind sample of residential loans from … 1930 and 1940, linked to the decennial censuses. Contract choices reflected borrowers' reactions to the risks posed by … 1940, contract use shifted toward longer term contracts, reflecting the advent of federal involvement in the residential …

This paper studies mortgage contract choices in US history using a first-of-its-kind sample of residential loans from … 1930 and 1940, linked to the decennial censuses. Contract choices reflected borrowers' reactions to the risks posed by … 1940, contract use shifted toward longer term contracts, reflecting the advent of federal involvement in the residential …

, and not qualify for a mortgage, in the future. In this paper, we analyze the economics of a RTO contract under financial …Due to tougher lending standards, Rent-to-Own (RTO) contracts are getting popular. In a RTO contract, a tenant signs a … economic implications remain murky. Contract terms are further complicated since the tenant may stay financially constrained …