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Well Worth Saving
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Well Worth Saving: How the New Deal Safeguarded Home Ownership

Price V. Fishback, Jonathan Rose, and Kenneth Snowden

Abstract

This book is an economic history of the Home Owners’ Loan Corporation (HOLC). The HOLC was government corporation created under the New Deal to refinance home mortgage loans in danger of foreclosure, passed at the beginning of the Roosevelt administration in 1933 with overwhelming support from Congress and a broad set of interest groups. The challenge for HOLC officials was to design a program that could deliver relief to loan borrowers while still securing the voluntary participation of lenders and not imposing unjustifiably large costs on taxpayers. Ultimately, the HOLC was effective in purc ... More

Keywords: Home Owners Loan Corporation, HOLC, Great Depression, New Deal, Foreclosure, Loan refinance, Loan modification, Housing crisis, Housing policy, Home ownership

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780226082448
Published to Chicago Scholarship Online: May 2014 DOI:10.7208/chicago/9780226082585.001.0001

Authors

Affiliations are at time of print publication.

Price V. Fishback, author

Jonathan Rose, author

Kenneth Snowden, author