One In Ten Are Behind On Their Mortgage Payments
The number of Americans behind on their mortgages is up by another 9.2 percent. So says the Mortgage Bankers Association, also noting an 18-year spike in the number of people seeking cash by refinancing their homes. As the feds study rival mortgage fixes, retail sales are at a 35-year low and unemployment's at a 34-high, news prompting Rep. Barney Frank to say ignoring automakers' bailout pleas is not an option. An economist, looking at the jobless numbers, calls them "almost indescribably terrible." For more on the economy, see our Citizen's Survival Kit.
Tags: bailout, banks, Economy, exit strategy, FDIC, financial institutions, jobs, recession, stimulus, unemployment 
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