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IPFS News Link • Housing

Mortgage Delinquencies, Foreclosures Hit Records on Job Cuts

05-28-2009 • Bloomberg.com

“If people don’t have a paycheck they can’t support a mortgage,” Jay Brinkmann, the MBA’s chief economist, said in an interview. “The longer the recession lasts the more people run through their savings reserves, leading to higher delinquencies...

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