The Biggest Mortgage Defaulters are the Rich

In a July 9th, 2010 by David Streitefeld, it was revealed that “the housing bust that began among the working class in remote subdivisions, has quickly spread to the urban, middle class, the striking upper class to privileged enclaves…”

The New York Times reviewed cases from the real estate analytical firm Core Logic that shows that more than one in seven home owners have loans in excess of million dollars that are seriously delinquent.

Even if you aren’t among the rich and famous, you may have stopped paying your mortgage and be in danger of default. Bankruptcy may be an option for you and for more information you should contact Castle Law of Florida to understand mortgage foreclosure, bankruptcy and alternatives to bankruptcy.