When a Job Loss Hits Home: What to Do About Your Mortgage
Due to the current state of the economy, the number of delinquent residential mortgages in New Jersey and Pennsylvania continues to increase, right alongside the unemployment rate. As borrowers continue to lose their jobs, they’re finding it increasingly difficult to make their monthly mortgage payments. A steady decline in home values has resulted in many unemployed borrowers who, in addition to being unable to afford their payments, are “underwater” – they can’t sell their homes for the balance they owe...
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