by Moe Bedard
NEW YORK (CNNMoney.com) — In a sign that more foreclosures could be on the horizon, 23% of people with mortgages owe more than their home is worth, according to a report released Tuesday.
Almost 10.7 million U.S. mortgages were “underwater” as of September, said research firm First American CoreLogic.
Another 2.3 million homeowners are within 5% of [...]
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by Moe Bedard
As Congress jousts over the effectiveness of the stimulus package to stir economic activity, it’s worth noting that homeowners — whose troubles are at the root of the economic crisis — continue to struggle. Nearly one-fourth (23 percent) of mortgage-paying homeowners nationwide now owe more on their homes than the property is worth, according to [...]
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