CREATIVE FINANCING: A QUESTION OF OPTIMAL HOUSING FINANCE (DUE-ON-SALE, NAR)
Abstract
Various factors have reduced the financing for single-family home resale transactions obtained from traditional mortgage lenders. Replacing such financing to some extent has been creative financing, defined as any technique using existing debt on a property, and the resources of sellers as well as buyers, to produce a financing package. This research intends to model the most common forms of this disintermediation--the assumption of existing mortgage debt and seller-financing--in order to determine the factors that influence the choice of financing technique. Tests are then performed to see if differences in these factors account for the variation in the incidence of these modes of financing that occurs across states.
Degree
Ph.D.
Subject Area
Finance
Off-Campus Purdue Users:
To access this dissertation, please log in to our
proxy server.