Number of Mortgage Defaulters Set to Be High

In the latest credit survey, lenders have reported that even though defaults on mortgages in the 2nd quarter is roughly the same as the 1st quarter of the year, the number of lenders that expects this rise in the 3rd quarter is the highest since 2009.

This is the highest number of lenders to believe this since the depth of the recession and highlights the worsening condition of credit available to those that are struggling.