Wow, how is that for a data point?
About 5.4 million American homeowners with a mortgage (~12%) were either behind in their payments or already in foreclosure at the end of 2008, according to the Mortgage Bankers Association.
That’s about one in eight households with mortgages (about half of owned homes in the US have mortgaes).
That’s your astonishing data point of the day:
12 pct. are behind on mortgage or in foreclosure