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Underwater mortgages and mortgage default risk in a recourse market

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Schilder & Francke (UvA/ASRE/Ortec) <strong>Underwater</strong> <strong><strong>mortgage</strong>s</strong>/<strong>mortgage</strong> <strong>default</strong> <strong>risk</strong> ERES 2012 32 / 36<br />

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Simple wage scenarios<br />

Results<br />

<strong>default</strong> probability: duration<br />

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