Some banks mostly offer fixed-payment variable mortgages which allows homeowners to keep monthly payments the same, but leaves them vulnerable to paying little off the principal, experts say.
AFAIU banks are using this to avoid bankrupting owners who can’t afford their mortgage. Isn’t something like 25% of mortgage debt part of 35 year+ terms now?
Those are a lot of homes that should be foreclosed on and returned to the market.
AFAIU banks are using this to avoid bankrupting owners who can’t afford their mortgage. Isn’t something like 25% of mortgage debt part of 35 year+ terms now?
Those are a lot of homes that should be foreclosed on and returned to the market.