Some families are managing to pay off their homes as fast as others pay off plasma TVs, to avoid the rising risk of mortgage stress. read more
Posts tagged as:
mortgage stress
Mortgage stress test
MORE and more Australians are being kept awake at night by the pressure of keeping up with their mortgage payments. Are you one of them? Take our simple yes-and-no test to find out. more
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Mortgage stress tipped to hit 1m by Xmas
Higher interest rates are tipped to force more than a million Australian households into a state of mortgage stress by the end of the year, a new report says. read more
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owners to embarrassed to advertise
PEOPLE struggling with huge mortgages in wealthy suburbs are selling their multi-million-dollar properties on the quiet so business associates and neighbours don’t know they are in financial strife.
Daniel Baran, from Place estate agents in Sydney’s prestigious Double Bay, said in the past year his agency had made about 10 sales with no newspaper or Internet advertising and no “for sale” signs at the homes. read more
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Stressed borrowers taking in lodgers
DESPERATE home owners overwhelmed by interest rates and the high cost of living are renting out bedrooms in order to survive financially.
The combined effect of the housing and rental crises is believed to be causing more home owners to seek “lodgers” to provide more income to the household.
Housing Industry Association (HIA) chief economist Harley Dale told NEWS.com.au that there has been anecdotal evidence that renters were increasingly being used to help owners with mortgage repayments. read more
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Working class stress
IT’S every home owner’s heartbreak — watching the value of their home plummet to half the price they paid within a few years. And in working-class suburbs around the country, it’s becoming an all-too-regular occurrence, The Australian reported. read more
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Stressed mortgagors ‘may lose homes’ - Aust report
Up to one in five Australian households under mortgage stress will lose their homes, according to new figures.
The findings in the monthly Anatomy of Australian Mortgage Stress to be released on Thursday show that about 20 per cent of people who go “into the slippery slide” of borrowing never get out.
But “once you’re in severe stress there’s only about a 50-50 chance of getting out,” Martin North from Fujitsu Consulting, the firm that compiled the report, told Fairfax on Tuesday.
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