Friday, November 20, 2009

Lose your job, lose your house

Some chilly news on the mortgage front. Just about 10% of home mortgage holders are at least one month behind in their payment; last year the number was 7%. The current rate of 10% is the highest it has ever been since this data has been tracked. The worst part of the news is that it's starting to look like those with quality loans are falling behind in their payments largely due to the crappy job market.

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