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Wednesday, 6 April 2022

1Mln US Homeowners Late on Payments Even as Tappable Home Equity Stands at $10Tln

WASHINGTON (Sputnik) - Almost one million US homeowners are seriously behind on their payments even as the tappable equity in mortgages has swelled to an all-time high of $10 trillion in a phenomenon reflecting the peculiarities of the country’s housing crisis, Federal Reserve Bank of Philadelphia President Patrick Harker said on Wednesday.

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