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Biggest Defaulters on Mortgages Are the Rich

Started by sjtmd
over 15 years ago
Posts: 670
Member since: May 2009
Discussion about
http://www.nytimes.com/2010/07/09/business/economy/09rich.html?_r=1&hp More than one in seven homeowners with loans in excess of a million dollars is seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic. By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent. %u201CThe rich are different: they are more ruthless,%u201D
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