Click on the title to link. Although we are not suprised at all to read this, it is a very interesting article about the tough decision many are faced with. We found two things to be most profound:
1. "$300 billion worth of adjustable rate mortgages are expected to reset upward over the next 12 to 15 months, adding on average $1,000 to monthly mortgage payments on homes that already are worth 30 percent to 50 percent less than their original sale price."
2. "Roughly 23.2 percent of all single-family homeowners who have a mortgage are underwater on their property, according to third-quarter data from Zillow."
Staggering numbers when you think about it. As we have said many times before, we are far from being out of the woods on all of this.
No comments:
Post a Comment