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Bankruptcy Reform and Foreclosures

David P. Bernstein
affiliation not provided to SSRN

July 2, 2008

Abstract:
The Bankruptcy Abuse and Protection Act (BAPCPA) (2005) by making it more difficult and costly for marginal homeowners to utilize the bankruptcy code, restructure their debts, and maintain mortgage payments, increased foreclosures and the number of homes for sale. BAPCPA was intended to help creditors at the expense of debtors. However, the negative impact of BAPCPA on real estate markets appears to have damaged the balance sheets of both debtors and creditors.

Keywords: personal bankruptcy, personal finances, financial institutions, consumer debt, mortgages

JEL Classifications: G18, G21, K35

Working Paper Series

Date posted: July 08, 2008 ; Last revised: July 08, 2008

Suggested Citation

Bernstein, David P., Bankruptcy Reform and Foreclosures (July 2, 2008). Available at SSRN: http://ssrn.com/abstract=1154635

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David P. Bernstein (Contact Author)

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