Saturday, September 24, 2005

Owners staying on top of mortgage payments

Owners staying on top of mortgage payments: "You've probably seen the dire news reports:
American homeowners are becoming debt junkies, piling up record mortgage amounts, credit card bills, home equity credit lines. They are putting less down when they buy and borrowing a lot more.
Families in high-cost real estate markets are stretching their household budgets to the breaking point in order to buy even a modest home. Some families are devoting 40 to 50 percent of their monthly income just to hang on to their high-priced houses."
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