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Mortgage Modifications after the Great Recession: New Evidence and Implications for Policy

A house and icons of a credit card, a past due notice, and a bill.

For many, owning a home is a vital part of the American dream. Beyond providing a place of refuge, owning a home offers families a store of wealth, a long-term investment, and an asset that can be passed on to the next generation. However, in the aftermath of the Great Recession houses across the country lost considerable value, and by the end of 2011 many homeowners owed more on their mortgage than their home was worth. To make matters worse, over the same period the unemployment rate nearly doubled and delinquency rates on residential mortgages spiked. In response, various mortgage modification programs were introduced to help homeowners struggling to make their monthly mortgage payments remain in their homes.

In this JPMorgan Chase Institute report, we used a de-identified sample of Chase customers who received a mortgage modification to measure the impact of reductions in monthly mortgage payments and mortgage principal on default and consumption. We also examined the relationship between income loss and mortgage default.

Read the Report  “Mortgage Modifications after the Great Recession: New Evidence and Implications for Policy”

Paying Out-of-Pocket: The Healthcare Spending of 2 Million US Families

Spending at healthcare services

The JPMorgan Chase Institute released a new research report that explores the levels, concentration, and growth of out-of-pocket healthcare spending and the implications for household financial health.

Read the Report  “Paying Out-of-Pocket: The Healthcare Spending of 2 Million US Families”

 

Paying a Premium: Dynamics of the Small Business Owner Health Insurance Market

Spending at healthcare services

This report provides insight into the decisions of small business owners as participants in the individual health insurance market and a unique perspective into the magnitude of health insurance premiums relative to other operating expenses small business owners face.

Read the Report  “Paying a Premium: Dynamics of the Small Business Owner Health Insurance Market”

 

JPMorgan Chase Institute HOSP Geographic Data Visualization Tool

Spending at healthcare services

Healthcare spending varied widely in the US in 2016, both across and within states. Explore the JPMCI HOSP data asset at the state, metro area, and county level with our interactive data visualization tool.

View Data Visualization of the JPMCI HOSP

 

Spotlight: Profiles of Local Consumer Commerce

It’s time to use hard data and smart insights to address the complex problems that affect us all.

That’s why we established the JPMorgan Chase Institute.

The JPMorgan Chase Institute aims to help decision makers – policymakers, businesses, and nonprofit leaders – appreciate the scale, granularity, diversity, and interconnectedness of the global economic system and use better facts, timely data and thoughtful analysis to make smarter decisions to advance global prosperity.

Learn more about the JPMorgan Chase Institute