Sentences with phrase «numbers of homeowners defaulted»
Not exact matches
Although some 700,000 homeowners have gotten modified mortgages through the program, that number is dwarfed by the millions of foreclosures that have taken place and the millions of homeowners in default today.
https://www.nytimes.com/
A number of things happen when a homeowner defaults on their mortgage.
Depressed home prices, down about 30 percent from their peak in 2006, have prompted fears that homeowners who are capable of meeting their mortgage payments will default in large numbers and simply walk away from their homes in what's called strategic defaults.
Fears that underwater homeowners will default on their mortgages in large numbers are exaggerated, say economists from the Federal Reserve Bank of San Francisco.