I read in the news yesterday that 1 out of every 10 households in America are behind in their mortgage payments by at least 1 month. This in my opinion is outright scary. The Mortgage Bankers Association officiallyannounced this news about American households. They also say that the problem is stemming more and more as a result of people losing jobs and the bad economy. Before now the bulk of the blame went to the adjustable rate mortgages and sub-prime borrowers. Now, it seems as though the tough economy and job less is a major factor as well.
Congress needs to be focusing more on this issue and I hpoe they can come up with some sort of relief for homeowners directly. I don't know whether dropping the rates would help at this point. Rates are already low and we have not seen a spark.
Josh McKnight
Keller Williams Real Estate
WWW.JOSHMCKNIGHT.COM God, Family, Business Bringing the best of service to every transaction.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
