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January 4, 2007 (Press Release) --
So why are there so many homeowners delinquent on their mortgages?
Millions in Foreclosure and Mortgage Delinquency. Foreclosures and mortgage delinquencies are at an all time high and number in the millions. U.S. homeowners are losing their homes at record rates with no end in sight. The experts predict this is only the tip of the iceberg - in the next few years this epidemic will increase five-to-tenfold.
14.78% OF MORTGAGES PAST DUE - 8.58% IN FORECLOSURE."In a clear sign of serious unfolding problems, the Mortgage Banking Association (MBA) survey reports that 12% of Federal Housing Administration (FHA) loans are either in foreclosure or delinquent. The delinquency and foreclosure numbers are quite alarming and indicative (along with FHA data) of fundamental systemic lending shortcomings.
So why are there so many homeowners delinquent on their mortgages? Real simple - people already live paycheck to paycheck; then they encounter unforeseen circumstances that affect their ability to pay a mortgage in a timely manner. The Mortgage Industry defines these situations as 'Hardship Conditions': Temporary job loss; medical illness or injury; marital difficulties; unforeseen repairs or high utility rates; tenant problems; even a death in the family. Just one of these situations can have a direct bearing on making home mortgage payments.
What i have found to work this year is a amazing company called CSG at
www.stop-my-foreclosure-now.com that can help you if you qualify with your Forclosure.
Millions in Foreclosure and Mortgage Delinquency. Foreclosures and mortgage delinquencies are at an all time high and number in the millions. U.S. homeowners are losing their homes at record rates with no end in sight. The experts predict this is only the tip of the iceberg - in the next few years this epidemic will increase five-to-tenfold.
14.78% OF MORTGAGES PAST DUE - 8.58% IN FORECLOSURE."In a clear sign of serious unfolding problems, the Mortgage Banking Association (MBA) survey reports that 12% of Federal Housing Administration (FHA) loans are either in foreclosure or delinquent. The delinquency and foreclosure numbers are quite alarming and indicative (along with FHA data) of fundamental systemic lending shortcomings.
So why are there so many homeowners delinquent on their mortgages? Real simple - people already live paycheck to paycheck; then they encounter unforeseen circumstances that affect their ability to pay a mortgage in a timely manner. The Mortgage Industry defines these situations as 'Hardship Conditions': Temporary job loss; medical illness or injury; marital difficulties; unforeseen repairs or high utility rates; tenant problems; even a death in the family. Just one of these situations can have a direct bearing on making home mortgage payments.
What i have found to work this year is a amazing company called CSG at
www.stop-my-foreclosure-now.com that can help you if you qualify with your Forclosure.
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