Luxury Homeowners Falling Behind on Mortgage Payments
Per the Bloomberg news: An informative article on luxury homeowners falling behind on mortgage payments at the fastest pace in more than 15 years. The numbers pale in comparison to the sub-prime mess, but the delinquencies are becoming more prevelant in the luxury home market and it is something to keep track of. Article: Jumbo Loan Defaults Rise at Fast Pace as Rich Suffer
Here is another informative article that explores the problems in the jumbo loan market and how the new economic stimulus package does not address the issues facing this segment of the population: Jumbo Mortgages, Jumbo Headaches
By John Skinner
