While real estate accounts for only approx. 30% of the average household's total assets, mortgage debt accounts for approx. 80% of the average household's total liabilities. Home mortgage debt has increased every quarter since World War II.† In fact, according to the Federal Reserve, total U.S. household mortgage debt now exceeds $8 trillion.

Underlying reasons for this growth certainly include a rise in the total value of real estate over the years. The last decade has seen unprecedented growth in home values throughout the nation, and with this increase has come higher and higher home mortgage balances as new owners enter the market and existing ones refinance.

Another reason for this growth in mortgage debt could stem from improvements in the efficiency of the residential mortgage lending industry, that include at the very least an ability of the industry to reach out to households with previously unrecognized borrowing capabilities. Information technology has played no small part in these improvements, which have allowed a greater number of people access to mortgage debt.

Today, there are seemingly limitless features and options for the home mortgage borrower, including interest-only loans, variable or fixed interest rates, and full-documentation or stated income verification. The list goes on, but the result is that the home mortgage borrower now has more control than ever over their debt.

Many of today’s homeowners have quickly found themselves in over their heads in debt. This is where a company called CuraDebt can help you - assisting you in creating a plan to get out from under your personal debt load. Click on the link below to obtain a free consultation today!

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