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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Joseph G. who wrote (10037)	11/2/1998 9:46:00 AM
From: Cynic 2005	Read Replies (2) \| Respond to of 86076

<<wonder how many 125% mortgages will never be paid down to 100% ...>> But the Post says more than 40% of the homeowners are debt free. I find it hard to believe. <<* Nearly 40 percent of all home-owning households now have no mortgage debt--no first deed of trust, no equity line of credit, no second mortgage. * Nearly 20 percent of homeowners ages 18 to 34 have no mortgage debt. Half of all homeowners ages 55 to 64 have no debt against their houses. And, perhaps less surprisingly, more than 80 percent of people older than 64 are mortgage-free. * Homeowners who live in western states are least likely to own their homes without any form of mortgage (31 percent) while residents of southern states are the most likely (44 percent). * The higher your income and education, the less likely you are to own your house with no mortgage. These are just a few of the findings of a national statistical study of home equity indebtedness conducted for the Federal Reserve Board and the American Financial Services Association by the University of Michigan's Survey Research Center. ....>> washingtonpost.com