204 This figure illustrates the creditor friendliness score of all US states’ mortgage laws as defined by Ghent (2014). A score of 4 is given to the states with most creditor-friendly laws and a score of 0 to states with the least creditor-friendly laws. A score of 2 is rewarded when the power-of-sale foreclosure is the usual procedure in a state. A score of 1 if deficiency judgements are permitted without substantial restrictions and a score of 1 is given if statutory redemption is usually less than 6 months. The scores are listed in Panel A of Table 5.2. Figure 5.2: Creditor friendliness score of all US states.
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