Understanding the Far Reaching Societal Impact of Strategic Mortgage Default

19 Pages Posted: 12 Jul 2014

See all articles by Michael Seiler

Michael Seiler

College of William and Mary - Finance

Date Written: June 20, 2014

Abstract

This article discusses the often overlooked ramifications of strategic mortgage default and the widespread implications it has on our sense of community, economic and financial stability, as well as mental and physical well-being. Too often studies examine only the one-off economic effects of strategic default, or more broadly, the foreclosure contagion effect. But, recent work in the mainstream finance literature suggests larger picture issues such as national health care costs are also substantially impacted by major market movements such as the recent U.S. housing bubble.

Keywords: strategic mortgage default, morality, real estate law, health

JEL Classification: K11, K12, K41, R20, R21

Suggested Citation

Seiler, Michael, Understanding the Far Reaching Societal Impact of Strategic Mortgage Default (June 20, 2014). Available at SSRN: https://ssrn.com/abstract=2465122 or http://dx.doi.org/10.2139/ssrn.2465122

Michael Seiler (Contact Author)

College of William and Mary - Finance ( email )

VA
United States

HOME PAGE: http://mason.wm.edu/faculty/directory/seiler_m.php

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