Ohio, Massachusetts, New York, New Jersey and Pennsylvania have all set up special programs to provide fixed-rate mortgages to people whose adjustable rate has jumped so high that it is forcing them into default on …
I spoke to someone the other day who was in big trouble because he had tried to fix his mortgage problems with a loan that promised him 1.5% interest. This would reduce his payments …
Even as mortgage foreclosures and bankruptcies continue to rise, the Federal Reserve Board reports a sharp increase in non-mortgage borrowing by Americans. Total was up 4.7%. to $2.4 trillion in May.
Revolving credit (mostly …