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Late Payments on US Mortgages Rise
29% of borrowers who took out home loans in 2005 owe more than the value of their houses US Federal Reserve Chairman Ben Bernanke said today in Chicago, that he is concerned about the rising number of home loan delinquencies in the US. His remarks coincide with a report in today's Wall Street Journal that soaring housing prices and aggressive mortgage lending have saddled American home buyers with ever greater levels of debt, and early signs are now emerging that more people are unable to keep up with their monthly mortgage payments. The Journal says that recent studies by several...
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