The Value(s) of Foreclosure Law Reform

17 Pages Posted: 11 Feb 2010

See all articles by Melissa B. Jacoby

Melissa B. Jacoby

University of North Carolina School of Law

Date Written: January 2010


This symposium contribution examines the starkly different values reflected in traditional legal literature on foreclosure law reform in the U.S. as compared to some more recent entries in the wake of the rise of subprime lending and high rates of residential mortgage default. I highlight economist Dean Baker’s “right to rent” proposal, which would give former homeowners leasehold rights at market rates, to illustrate a more progressive set of housing policy considerations and to challenge the assumption that ownership is essential or optimal to promoting various housing objectives.

Keywords: foreclosure, homeownership, mortgages

Suggested Citation

Jacoby, Melissa B., The Value(s) of Foreclosure Law Reform (January 2010). Pepperdine Law Review, 2010; UNC Legal Studies Research Paper No. 1550842. Available at SSRN:

Melissa B. Jacoby (Contact Author)

University of North Carolina School of Law ( email )

Van Hecke-Wettach Hall, 160 Ridge Road
CB #3380
Chapel Hill, NC 27599-3380
United States

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