Sorry if this question sounds stupid or nieve but I'm genuinely interested in hearing the answer.
If more people lose their jobs; subsequently sign on; can't afford to pay their mortgage but pay a token payment each month; what happens?
Does the bank in time repossess? Will there be hundreds of thousands of people homeless? Will the debt follow them?
If more people lose their jobs; subsequently sign on; can't afford to pay their mortgage but pay a token payment each month; what happens?
Does the bank in time repossess? Will there be hundreds of thousands of people homeless? Will the debt follow them?