Friday, 21 August 2009

Over here...Over there

WASHINGTON — More than 13% of U.S. homeowners with a mortgage are either behind on their payments or in foreclosure as the recession throws more people out of work, the Mortgage Bankers Association said Thursday.The record numbers in the report are being driven by borrowers with traditional fixed-rate mortgages, rather than the shady subprime loans with adjustable rates that kicked off the mortgage crisis. As of June, more than 4% of borrowers were in foreclosure and about 9% had missed at least one payment.

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