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Full-Text Articles in Law
In Re Montierth, 131 Nev. Adv. Op. 55, Walter Fick
In Re Montierth, 131 Nev. Adv. Op. 55, Walter Fick
Nevada Supreme Court Summaries
The Court held that the separation of a promissory note, held by a principal, and the deed of trust, held by an agent of the principal, does not render either instrument “void,” or require the reunification of the note and the deed of trust in order to foreclose. The Court further held that, under Nevada law and in the case of a contractual principal-agent relationship, the recordation of an assignment of a deed of trust is a “ministerial act.”
The Chapter 13 Alternative: A Legislative Solution To Undersecured Home Mortgages, Samuel Bufford
The Chapter 13 Alternative: A Legislative Solution To Undersecured Home Mortgages, Samuel Bufford
Hon. Samuel L. Bufford
This article discusses minor changes to the U.S. Bankruptcy Code that would make avoiding foreclosure possible for a homeowner who (a) is presently not able to make the mortgage service payments but (b) could make payments for a mortgage that is reduced to the market value of the property and to a fixed market mortgage rate. This article does not address the political issue of what protections Congress might decide to provide mortgage owners and servicers as a part of such legislation.
Leverage, Default, And Mortality: Evidence From Cancer Diagnoses, Arpit Gupta, Edward R. Morrison, Catherine Fedorenko, Scott Ramsey
Leverage, Default, And Mortality: Evidence From Cancer Diagnoses, Arpit Gupta, Edward R. Morrison, Catherine Fedorenko, Scott Ramsey
Faculty Scholarship
This paper tests whether housing wealth mitigates the effects of health shocks on financial stress and mortality. We link cancer records to mortgage, bankruptcy, foreclosure, and credit report data. We find that cancer diagnoses are financially destabilizing even for households with health insurance, but the effect is driven by households without home equity. Households with equity extract it (by refinancing a mortgage or taking out a second). They are also more likely to accept recommended therapies and have higher post-diagnosis survival rates. Our findings show that housing wealth plays an important role in understanding how individuals buffer idiosyncratic shocks.