mortgage default

4 Things to Do to Avoid Defaulting on Your Mortgage Repayment

If you have a current mortgage and you suddenly lost your job or your source of income, you surely are in trouble. Aside from making ends meet for your daily necessities, you have to find ways to continue repaying your home loan. That will be a big challenge especially if you are certain you cannot afford to shoulder your monthly mortgage repayment anymore.

It is a must to avoid falling into a default. Aside from possibly being evicted from your own home, you will not like its long-term effect on your credit history. Try to prevent it from happening. Here are four effective ways to do so. […]

By |October 16th, 2012|Categories: Home Loans|Tags: , , , , |Comments Off on 4 Things to Do to Avoid Defaulting on Your Mortgage Repayment

NSW Tops Home Loan Default List

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. […]

By |May 23rd, 2011|Categories: Home Loans|Tags: , , , , , |Comments Off on NSW Tops Home Loan Default List