NEW YORK (Reuters) – High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax Inc credit bureau showed on Monday.
Among U.S. homeowners with mortgages, a record 7.58 percent were at least 30 days late on payments in August, up from 7.32 percent in July, according to the data obtained exclusively by Reuters.
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If you realize you are up side down in your home, what do you do, continue with the loan until you go under? No, as soon as possible you qualify for a short sale, you sale the house short of what your owe, you go on with your life, knowing if you get your finances in line you will purchase another house, the house is just a possession not your life. Please don’t let the house take you down, I can help you, stay in the house, get rid of the toxic loan and eventual purchase the house again with an new loan and new appraisal. Get help, No Cost out of your Pocket, Help. Don’t pay for an Loan Modification which will not help you long term and pay $3000 for a Loan Modification, if you can’t afford the loan, dump it.