About two-thirds of that decline reflects default, as banks foreclosed on delinquent debtors or borrowers ran away.
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Prev: Earlier this month, the government changed some of the rules about how mortgage defaulters' debt is calculated, and how much banks can deduct from debtors paychecks.
Next: Mortgage is a security interest in real property. The debtor whose property is subject to the mortgage is called the mortgagor.
