Bankruptcy Reform and Foreclosures

10 Pages Posted: 8 Jul 2008

Date Written: July 2, 2008


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 Classification: G18, G21, K35

Suggested Citation

Bernstein, David P., Bankruptcy Reform and Foreclosures (July 2, 2008). Available at SSRN: or

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