Thursday, October 9, 2008

Missed mortgage payments on the rise

Ten percent of mortgage borrowers have missed mortgage payments over the last six months

More than one in ten (11%) cash-strapped borrowers have missed payments on either their mortgage, credit card, or personal loan in the last six months according to research from MoneyExpert.com... And with the pressure mounting on households the independent financial comparison website is warning that more bills are likely to go unpaid in the coming months

Posted by converted lurker @ 10:21 AM (372 views)
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One thought on “Missed mortgage payments on the rise

  • Some loan and mortgage products allow the borrower to take payment holidays. It is not clear whether these missed payments have also been factored in. If not then the problem is probably worse than even these figures suggest, as taking paymemt holidays would be the first step before improperly missed payments.

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