The Effects of Foreclosure Counseling for Distressed Homeowners

@article{Collins2013TheEO,
  title={The Effects of Foreclosure Counseling for Distressed Homeowners},
  author={J. Michael Collins and Maximilian D. Schmeiser},
  journal={Journal of Policy Analysis and Management},
  year={2013},
  volume={32},
  pages={83-106}
}
In the face of the housing market downturn of the late 2000s, policymakers promoted third-party mortgage default counseling as a way to help people at risk of losing their homes to avoid foreclosure. Using a unique data set of monthly loan payments remitted to investors combined with administrative data from a national counseling agency, this study estimates the effects of default counseling on the probability that troubled mortgage borrowers will lose their homes to foreclosure. Borrowers are… 
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