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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Chispas who wrote (7285)5/30/2004 11:32:00 AM
From: Chispas  Read Replies (1) of 116555
 
Excellent idea..."When borrowers lose their jobs because of layoffs or overseas outsourcing, their mortgage defaults are financially painful for lenders and mortgage insurers, too. When unemployment-triggered defaults extend for months and lead to foreclosure, the costs for lenders and insurers can run into the tens of thousands of dollars per home. As a result, many now are eager to provide backup payment insurance designed to keep the homeowning household afloat -- and in the home -- until the breadwinners find new employment...."

startribune.com
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