The Historical Origins of America's Mortgage Laws
Andra C. Ghent
University of Wisconsin - School of Business - Department of Real Estate and Urban Land Economics
November 5, 2012
Research Institute for Housing America Research Paper No. 12-02
This paper examines the different legal frameworks for mortgage markets in different states, focusing on how and when they came into existence, including the British influence on laws in some of the older states, with a particular emphasis on foreclosures, including judicial vs. non-judicial regimes, redemption rights and deficiency judgments. The paper concludes that mortgage laws in America are a patchwork driven by path dependence, rather than a coordinated effort or a reaction to some economic event or condition.
Number of Pages in PDF File: 50
Keywords: Mortgage Laws, Evolution of Mortgage Legal Frameworks
Date posted: November 5, 2012
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