Educating low-income borrowers may be an effective — if oft-overlooked — way to minimize mortgage losses
By Doug Campbell
Campbell, John Y. "Household Finance." Journal of Finance, August 2006, vol. 61, no. 4, pp. 1,553-1,604.
Chomsisengphet, Souphala, and Anthony Pennington-Cross. "The Evolution of the Subprime Mortgage Market." Federal Reserve Bank of St. Louis Review, January/February 2006, vol. 88, no. 1, pp. 31-56.
Hartarska, Valentina, and Claudio Gonzalez-Vega. "Credit Counseling and Mortgage Termination by Low-Income Households." Journal of Real Estate Finance and Economics, 2005, vol. 30, no. 3, pp. 227-243.
Martin, Matthew. "A Literature Review on the Effectiveness of Financial Education." Federal Reserve Bank of Richmond Working Paper No. 07-03, June 2007.
Order single copies of or subscribe to Econ Focus (formerly Region Focus) and other publications from the Federal Reserve System.