The Price of Salvation
Mortgage delinquency rates are bad, but not nearly as bad (yet) as they were during the Great Depression.
the source: “Changing the Rules: State Mortgage Foreclosure Moratoria During the Great Depression” by David C. Wheelock, in Federal Reserve Bank of St. Louis Review, Nov.–Dec. 2008.
The Mortgage Bankers
Association announced some bad news in December: Seven in every 100 homeowners had fallen behind in their house payments, and another three were in foreclosure. It was a...