Mortgage Business
As of 2012 there were 76 million homes in the USA with 52 million of these homes having a mortgage, and 4.7 million of these homes in a delinquent state. Around 2.5 million of the delinquent homes are worth less than their mortgage and around 10 million homeowners who are not delinquent are paying mortgage notes that are worth less than their home. About 25 percent of these homes are expected to go into default because homeowners either cannot afford to continue paying or are simply unwilling to pay more for a home than it is worth.