If you took out a mortgage in 2007, there's an over 20 percent chance you'll default on it.
At least that's according to the number-crunchers at the the Federal Housing Administration. Their data comes from the Mutual Mortgage Insurance Fund -- the FHA fund that insures mortgages on homes for one to four families. Their report shows the percentage of mortgages that have defaulted over their loan lifetime, and how they expect the default rate to continue in the future, based on the year they were taken out.
categories: Understanding The Crisis
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