According to the mortgage tracking company, CoreLogic, there are approximately 3.5 million homeowners delinquent (more than 3 months behind) on their mortgage payments and still living in their homes. It is estimated that nearly 20% of this group are more than capable of making the payments; they just simply choose not to. As real estate values continue to plummet, this situation will only grow worse, as indicated in a report this week by Deutsche Bank, which estimates that 48% of the mortgages in the US will be underwater by 2011.
Read the rest here:I Don’t Wanna Pay Anymore!
