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mad'un

Mortgages - What Happened In Wwii?

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Just a thought and not really "war-related", but with the impending (wait & see) financial melt-down, I wondered what happened to people during WWII when they couldn't afford to pay mortgages.

Don't shoot me down! :o I have no idea of the financial state of affairs of that era and I appreciate that mortgaged people were probably far fewer, but I want to try and understand whether the government acted to assist in any way.

What will happen now when SO many people begin to default on mortgages, as seems inevitably to be on the horizon?

In the early 90's I know that many families lost their homes - surely this time though it will be far worse? Can/Would they really repo so many people without unstitching the fragile fabric of our modern society? :(

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