The Causes of Home Foreclosures - PowerPoint PPT Presentation

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The Causes of Home Foreclosures

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    1. The Causes of Home Foreclosures Christopher Robertson, JD, PhD Richard Egelhof, JD, & Michael Hoke, JD, MA Full report published as "Get Sick, Get Out: The Medical Causes of Home Foreclosures" Health Matrix 18 (2008): 65-105.

    2. There were 1.5millionforeclosure filings in the first half of 2009. Thats more than 3 million homes, with about 7.8 million people living in those homes. What causes these home foreclosures?

    3. Handy Answers loose lending by mortgage brokers, irresponsible borrowers, a flat real estate market, and rising interest rates.

    4. Study Method (conducted winter 06/07) Sent 2000 surveys homeowners in California, Illinois, New Jersey, and Florida Recipients randomly drawn from Westlaw database of notices of foreclosure filed in recent 30 days Included $1 to encourage response, and used Harvard letterhead and envelopes Called 500 recipients to encourage responses over the phone Collected additional property data from Zillow.com on all 2000 homes

    5. 7% Response Rate (of good addresses)