According to a report by the Associated Press, a record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September.
The Mortgage Bankers Association said Friday the percentage of loans at least a month overdue or in foreclosure was up from 9.2 percent in the April-June quarter, and up from 7.3 percent a year earlier.
Distress in the home loan market started about two years ago as increasing numbers of adjustable-rate loans reset to higher interest rates. But the latest wave of delinquencies is coming from the surge in unemployment.
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4 Responses
I am willing to volunteer to do anything to help others with parnassah! Does anyone have an idea for me? Lets work together in helping!!!
(I also know of too many cases of people WITH JOBS that are not getting paid and can’t pay their bills and mortgages!)
I think for starters as was mentioned here before we should shop by heimish only even if you may pay a drop more.
Again, poor George must have inherited this from Clinton. What Clinton did on his watch was disgusting and then some, but Bush, in his own right, on his watch, is runner-up for worst leader to preside over our nation.
Davidk
depending on where you live-
Flatbush COJO ask Rabbi Pikus he could really use your help
Agudah PCS of NY or PCS of lakewood has major planning underway for a very big push to help Yidin,
Call Rabbi Lerner at the Young Israel they have a Job network that could use volunteers to enhance it.
Call the OU they have a Job network as well.
There are no shortages of programs just a shortage of willing and able people to volunteer.
Step up.