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Outlook: The subprime lending crisis: Focus on the problem: Subprime borrowers in trouble

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  • John C. Weicher

Abstract

Public policy should be directed at serving the large number of borrowers who have recently taken out subprime loans and who are at serious risk of losing their homes when their mortgages reset. Practicing forbearance and providing counseling for defaulting homeowners, as well as allowing them to refinance into a Federal Housing Administration loan, can be particularly helpful. Broad changes in housing programs and in the structure of the mortgage market should be considered on their merits as good or bad public policy for the long term, not simply as solutions to the subprime problem.

Suggested Citation

  • John C. Weicher, 2007. "Outlook: The subprime lending crisis: Focus on the problem: Subprime borrowers in trouble," Housing Policy Debate, Taylor & Francis Journals, vol. 18(4), pages 829-836, January.
    • Handle: RePEc:taf:houspd:v:18:y:2007:i:4:p:829-836
    DOI: 10.1080/10511482.2007.9521622
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    Cited by:

    1. Paul Langley, 2009. "Debt, Discipline, and Government: Foreclosure and Forbearance in the Subprime Mortgage Crisis," Environment and Planning A, , vol. 41(6), pages 1404-1419, June.

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