Fed Study: Garnishing Wages Could Reduce Mortgage Defaults by 30%



A “Working Paper” documenting a study of mortgage default has determined that two possible options for reducing mortgage defaults would be to increase the required down payment to 15% or garnish the wages of defaulting borrowers. The study, written by Juan Carlos Hatchondo, Leonardo Martinez, and Juan M. Sánchez, looks at an aggregate of data […]

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