Daily Real Estate NewsBuyers are much more likely to default on their mortgages because they don't have a job than they are because the mortgage terms are unaffordable, according to a study from the Boston Federal Reserve.Boston Fed economists said that in light of the study’s findings, it probably makes more sense to spend money to help people find jobs than it does to create programs that modify their mortgages.The economists suggested a better approach might be for the government to replace part of an individual home owner’s lost income after job loss with loans or grants. If that fails, then the government should assist the failed home owners in becoming renters, the economists said. Source: Reuters NewsScott Chappell and Brian Bean
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