Homeowner Characteristics Associated With the Occurrence of Negative Home Equity

Autor:	Leslie E. Green, Narang Park
Rok vydání:	2022
Předmět:	Economics and Econometrics Finance
Zdroj:	Journal of Financial Counseling and Planning. 33:407-420
ISSN:	1947-7910 1052-3073
DOI:	10.1891/jfcp-2021-0044
Popis:	Negative home equity is due to declines in home values, largely driven by economic factors, and increases in mortgage debt, a decision made by individuals. Yet, empirical research assessing the individual’s role in the occurrence of negative home equity is limited. This study used the 2018 National Financial Capability Study to explore the association between financial literacy, savings, and debt at the individual level on the occurrence of negative home equity. The findings revealed that objective financial knowledge and financial security were negatively associated with the occurrence of negative home equity, while having a home equity loan, using a payday loan, having medical debt, and exceeding credit card limits were positively associated with the occurrence of negative home equity.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::515eb1eaea4d4caf83ee5da888d5c457 https://doi.org/10.1891/jfcp-2021-0044 Zobrazit plný text záznamu