After watching this report on CBS’ 60 Minutes recently I wanted to share this with as many people as possible.
It is staggering to hear that experts believe that more than half of homeowners in the United States will owe more than their home is worth before the “foreclosure crisis” reaches bottom.
According to this report, one in five homeowners that lost their home to foreclosure was actually able to afford their payment. Recent reports from the Mortgage Bankers Association show that more than 10 percent of homeowners missed one payment or more in the first quarter of this year.
