Home loan troubles break records again (A Record 9%)

Home loan troubles break records again (A Record 9%)

news.yahoo.com

WASHINGTON - More than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said Friday.

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A record breaking 9% are behind on payments and these are not subprime loans. These are exotic loans taken by people with good credit. These people cannot meet their payments.

This disaster has only begun!

news.yahoo.com
(visit the link for the full news article)

No only home loans default but add the Corporate Loan Defaults on the Rise and that tells you the real health of the economy alone with the unemployment rates but we are doing peachy or that is what many will tell you.

If business can not even pay their loans they can not pay their employees.

www.iht.com...