Mortgages Archive

Quote of the day: “…payments on mortgages that are underwater could absorb billions of dollars that might be used for other forms of consumer spending – a drag on family finances and … the overall economy.”

I found this post from RISMEDIA on Monday: http://rismedia.com/2010-11-04/faithful-mortgage-payments-and-their-effect-on-the-economy/ I find the premise that home owners that are trapped in homes that are worth less than they are mortgaged for, and cannot be re-financed, are a huge