Posted To: Pipeline Press

WalletHub released its 2021 Home Overleverage Report after determining where homeowners have the most unsustainable mortgage debts. WalletHub compared the median mortgage debt to the median income and median home value in more than 2,500 U.S. cities. Chester, PA, has the lowest median mortgage debt, $41,859, which is 18.6 times lower than in Beverly Hills, CA, the city with the highest at $780,457. Bronxville, NY, has the lowest mortgage debt-to-house-value ratio, 16 percent, which is 12.7 times lower than in McKees Rocks, PA, the city with the highest at 203 percent. Scarsdale, New York, has the highest median income, $214,970, which is ten times higher than in Bastrop, Louisiana, the city with the lowest at $21,583. Not only are lenders and MLOs interested in demographics in their markets…(read more)

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Source: Mortgage News Daily