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Wealthier Americans Have Higher Mortgage Default Rate

HeadlineJul 09, 2010

A new analysis shows wealthier Americans have a higher rate of mortgage defaults than the rest of the population. According to the New York Times, more than one in seven homeowners with loans exceeding one million dollars are seriously delinquent. By contrast, the delinquency rate for mortgages below the one million mark is about one in twelve.

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