the [alternate] patriot


 

Wednesday, March 27, 2002  

Mortgage defaults surge in NYC
The number of low- and moderate-income families in the New York metropolitan region who are seriously behind on their mortgage payments is soaring, according to new federal and city data and housing experts...
...The increase in the number of homeowners in default on federally insured loans for one- to four-family homes -- defined as 90 days behind on their monthly mortgage payments ? is occurring across the nation, the federal data show, with the rate more than doubling in the last decade.

--NY Times, 3/27/02




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