Mississippi Leads Nation in People Behind on Mortgages
Mississippi, Louisiana and Michigan are the frontrunners in people behind on their mortgages and in danger of losing their homes.
Analysts say many homeowners staved off foreclosure a few years ago by refinancing to more risky adjustable-rate mortgages with lower monthly payments.
Now those homeowners and investors are struggling to hold on as their payments begin to increase.
The statistics come from the Mortgage Bankers Association's quarterly snapshot of the housing market. The figures are for October, November and December of 2006. .
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