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To: Ahda who wrote (83809)	3/28/2002 4:00:48 PM
From: long-gone	Respond to of 117068

Times were so good that: Wednesday March 27 08:57 AM EST Failing Mortgages Soar in New York By SARAH KERSHAW The New York Times The number of low- and moderate-income families in the New York metropolitan region who are seriously behind on their mortgage payments is soaring, according to new federal and city data and housing experts, who say they have seen a surge in mortgage troubles since Sept. 11. Among homeowners holding federally insured loans in a popular mortgage program intended to help low- and moderate-income people and minorities buy their first homes, the percentage of families who bought during the housing and economic booms of the 1990's but are now in default on their loans has skyrocketed, according to data from the Department of Housing and Urban Development (news - web sites). The increase in the number of homeowners in default on federally insured loans for one- to four-family homes defined as 90 days behind on their monthly mortgage payments is occurring across the nation, the federal data show, with the rate more than doubling in the last decade. dailynews.yahoo.com