Have you been struggling to pay your home loan? If you have been building up your debt, you may have possibly missed out on one or several monthly payments. Or you may have been paying smaller amount than the minimum payment amount required. Thus, you may have to deal with home loan in arrears. How to deal with this problem? Here are four effective ways. […]
As the unemployment rate in Australia continues to rise, up to 1 in 16 homeowners are defaulting on their home loans. Of the top 20 postcodes where mortgages are more than one month in arrears, 19 postcodes are in NSW, data obtained by The Daily Telegraph reveals.
An analysis by the UWS’s Urban Research Centre has found that areas along the M4, Windsor Rd and Canterbury Rd, as well as the Central Coast, are feeling the impact of the alarming recession. The hardest hit is the area around Fairfield and Liverpool, where the latest figures show that the unemployment rate has jumped to 10.5% (the highest it has been since 2001).
The top areas in NSW for defaulting on home loans is Nelson Bay, followed by Raymond Terrace, Katoomba, Greenacre, Guilford, Fairfield, Cessnock and St Marys. […]
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