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Research Abstracts Online
January - December 2011

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University of Minnesota Twin Cities
College of Liberal Arts
Department of Economics

PI: Christopher J. Phelan

Chapter 13, Mortgage Lending, and Unsecured Credit Markets

In October 2005, a major pro-creditor reform of Chapter 13 of the U.S. bankruptcy code was implemented through the Bankruptcy Abuse and Consumer Protection Act (BAPCPA). This research examines the implications of the reform for credit markets and welfare. The researchers are developing a new framework for the study of default and debt discharge in an environment of intertwined mortgage lending and unsecured credit markets. The predictions of the model are consistent with cross-state variations in terms of both homestead exemption and the nature of the foreclosure process (judicial versus non-judicial).

Group Member

Nathalie Pouokam, Graduate Student