Monday Morning Cup of Coffee: What’s the diagnosis for the "sick" housing market?

6 secrets to dealing with regulations for mortgage servicers

A candid look from the perspective of 2 recovering regulators

First-time buyer GSE mortgage loans are getting far riskier

Risk index for agency mortgages for new buyers at series high
W S
Servicing / The Ticker

Falling foreclosures: A sign of borrower heroism

More Americans focus on debt reduction

bandaid_money
/ Print / Reprints /
| Share More
/ Text Size+

Falling foreclosures are the result of heroic homeowners who have spent the past five years deleveraging, or paying down personal debts, says economics reporter Jon Hilsenrath with The Wall Street Journal.

CBS This Morning caught up with Hilsenrath to learn more about this deleveraging trend.

The news agency pulled the following excerpt from the interview:

"Americans have done something heroic, really, in the last five years,” Hilsenrath said. "Faced with all of this debt after the housing boom, they've made a lot of progress on paying it down. Almost one-eighth of the household consumer debt got basically paid down."

Source: CBS News - WSJ
Read full story
Comments powered by Disqus