Tag: mortgage default

Long on Mortgage; Short on Wealth

By Thomas J. Stanley on Jul 15th, 2010 in Current Events

In a recent article, The New York Times profiled those people who have defaulted on unpaid mortgages of $1 million or more.  The author contends that “the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population. . . more than 1 in 7 homeowners with loans in excess […]