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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (7285)	5/30/2004 11:32:00 AM
From: Chispas	Read Replies (1) \| Respond to 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