Shock Rise in Mortgage Default Cases

30 03 2011
  • Borrowers unable to catch up on payments
  • Migrating into 90-plus days in arrears
  • Mortgage  performance at record low

IF YOU have missed three monthly mortgage payments, expect a default notice in the mail any day now.

More people than ever are defaulting on their home loan repayments, according to credit ratings agency Fitch and the situation is expected to get even worse.

Read more: http://www.news.com.au/money/property/shock-rise-in-mortgage-default-cases/story-e6frfmd0-1226029350473#ixzz1I3hJTweU

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