Affordable Homeownership: The Incidence and Effect of Down Payment Assistance

Freeman, Allison; Harden, Jeffrey J.

doi:10.1080/10511482.2014.915226

Cited by 13 publications

(9 citation statements)

References 9 publications

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“…Many of these programs structure their assistance as a community second lien that may or may not require repayment. Prior studies offer mixed results about whether or not having “skin in the game” is necessary to reduce the risk of default (Freeman & Harden, 2015; Kelly, 2008; Stacy, Theodos, & Bai, 2018), and subsequently, if down payment assistance increases the risk of default. Our study cautions against generalizing from these findings without identifying the source and structure of assistance.…”

Section: Discussionmentioning

confidence: 99%

Low‐Income Homeownership and the Role of State Subsidies: A Comparative Analysis of Mortgage Outcomes

Hembre¹,

Moulton²,

Record³

2020

J Policy Anal Manage

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Between the late 1970s through 2013, state Housing Finance Agencies (HFAs) financed nearly $300 billion in mortgages to low‐ and moderate‐income first‐time homebuyers. Descriptive evidence indicates that HFAs help households retain their homes at higher rates than similar households purchasing homes in the private mortgage market. Using a matched sample of HFA originations between 2005 and 2014, we estimate a multinomial logit model of mortgage default (or foreclosure) and prepayment. We find that HFA borrowers are about 30 percent less likely to default or foreclose on their mortgages than otherwise similar non‐HFA borrowers. We find that 37 percent of this HFA effect can be explained by HFA origination and service delivery practices including direct servicing and homeownership counseling.

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Section: Discussionmentioning

confidence: 99%

Low‐Income Homeownership and the Role of State Subsidies: A Comparative Analysis of Mortgage Outcomes

Hembre¹,

Moulton²,

Record³

2020

J Policy Anal Manage

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“…While the aftermath of the financial crisis was accompanied by a curtailing of predatory mortgage products, other aspects of tightened mortgage lending, such as higher downpayment requirements, bear little relation to mortgage delinquency and simply make homebuying more difficult for lower income households (Freeman & Harden, 2014;Quercia et al, 2011). Meanwhile, our data corroborate that homeownership remains an important, difficult, and distant goal for many low-income renters (Belsky, 2013;Reid, 2014).…”

Section: Discussionmentioning

confidence: 99%

First-time homebuying: attitudes and behaviors of low-income renters through the financial crisis

Lindblad¹,

Han

Yu³

et al. 2017

Housing Studies

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We use psychological theory to investigate how attitudes toward homebuying relate to first-time home purchases over the past decade. Homeownership rates in the US have dropped to 20-year lows, but whether views toward homebuying shifted due to the financial crisis is not known because studies have not compared attitudes for the same respondents pre-and post-crisis. We address this gap with 2004-2014 panel data from low-income renters. We find that a negative shift in homebuying attitudes is associated with a decline in first-time home purchases. Older renters aged more than 35 years at baseline report the greatest declines in homebuying intentions. Younger renters aged 18-34 also report diminished homebuying intentions, yet express highest overall levels of homebuying intentions pre-and post-crisis. Blacks report greater homebuying intentions although their odds of home purchase are 29 per cent lower than whites. Homebuying norms and favorability are associated with homebuying intentions but not with actual purchases, while perceived control over homebuying influences both outcomes.

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“…Вместе с этим в зарубежной практике выявлено, что меры по снижению платежей по ипотечному кредитованию для отдельных категорий граждан могут привести к непропорциональному снижению доступа к кредитам у отдельной группы населения (Freeman, Harden, 2015).…”

Section: период активного участия государства в развитии жилищной сфеunclassified

Сравнительная Характеристика Жилищных Систем Китая И России

Сунь¹,

Гареев²

2015

Russian Journal of Housing Research

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The article reviews evolution of the state housing policy in China and Russia. Main approaches to resolving of the housing issues on the territory of countries that have dramatically changed their development course are detected. Evaluation of development prospects that determine residential real estate market trends is given. Obtained results can be used for correction of the national housing policy that will increase business activity in the industry and will make the housing issue less acute. KEYWORDShousing policy, regulation of the housing system, targeted housing programs, housing issue

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Affordable Homeownership: The Incidence and Effect of Down Payment Assistance

Cited by 13 publications

References 9 publications

Low‐Income Homeownership and the Role of State Subsidies: A Comparative Analysis of Mortgage Outcomes

Low‐Income Homeownership and the Role of State Subsidies: A Comparative Analysis of Mortgage Outcomes

First-time homebuying: attitudes and behaviors of low-income renters through the financial crisis

Сравнительная Характеристика Жилищных Систем Китая И России

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