'California mortgage defaults rise while foreclosures go down'

California mortgage defaults rise while foreclosures go down

04/29/09 22:48

More Californians are defaulting on their mortgage payments today than anytime in the last 20 years. This only shows that the crisis is still reclaiming new victims despite the viewed idea of slow recovery.

However, according to records, fewer homes are getting repossessed as well, primarily because of moratoriums imposed by banks and institutions like Freddie Mac and Fannie Mae

Link: Mortgage defaults rise but homeowners stay put - Los Angeles Times

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