Paul Bennett

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  • Stavros Peristiani, Paul Bennett, Gordon Monsen, Richard Peach, Jonathan Raiff
  • 1997
omeowners typically have the option to pre-pay all or part of the outstanding balance of their mortgage loan at any time, usually without penalty. However, unless homeown-ers have sufficient wealth(More)
The optimal prepayment model asserts that rational homeowners would re ̄nance if they can reduce the current value of their liabilities by an amount greater than the re ̄nancing threshold, de ̄ned as(More)