Abstract
In this paper, I discuss the many factors and considerations that enter into the strategic mortgage default (SMD) decision-making process. While it is not possible to construct a single cumulative distribution function (CDF) associated with this decision, it is important for policymakers to better understand what composes its shape, as well as the range over which values occur. I use both transactions-based and experiment- based data to suggest a theoretical shape of the SMD CDF.
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