More details coming soon — like after I’ve read all this stuff; but if you have federally held student loans (as opposed to federally guaranteed or private loans) the current relief bills just became your new best friend. Ok, so we can complain all we want to about the HUMONGOUS tax breaks for real estate investors included in the bills, but these bills also give considerable benefits for both loans in good standing and loans in default. More information coming soon.
USA Today ran an article on foreclosure statistics. It seems that we have recently set two records. The first is that for the first time ever 10% of all home owners (according to the article) missed a mortgage payment during a quarter. The second is that now some 4.6% of all home owners are in foreclosure. Gee, two records, one article.
What I find difficult to believe about this is that it says both of these percentages are of all home owners — not all home owners with mortgages. I would believe those numbers if they are all home owners with mortgages, but considering the number of paid for properties around, it would be seriously staggering if those numbers are actually true.