New research suggests that buyers’ minds are so taxed after they go through the ordeal of finding a house that they often rush into the next step — applying for a loan — and make poor choices. … It’s a phenomenon called “cognitive resource depletion,” and it has been identified by two George Washington University instructors as an often crucial factor in why the choices borrowers make may come back to haunt them.
0 minute readResearchers link ‘tired’ borrowers with risky mortgage decisions
June 7, 2010, 2:18pm
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
