Lorenz Goette

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Are ‘Affordable Mortages’ a Myth?

Apr 13, 2009By

An interesting research paper released last week by researchers at the Federal Reserve Bank of Boston takes a critical look at the nation’s foreclosure problem, and finds evidence that conflicts directly with what many have assumed is common knowledge — the idea that borrowers are stuck in ‘unafforable mortgages,’ and need strong government intervention in modification efforts to make their mortgages more affordable.

3d rendering of a row of luxury townhouses along a street

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