Mortgage troubles in Louisiana - KPLC 7 News, Lake Charles, Louisiana

Mortgage troubles in Louisiana

March 14, 2007

Reported by Associated Press

Louisiana is one of three states that lead the nation in people behind on their mortgages and in danger of losing their homes.

Analysts said many homeowners staved off foreclosure a few years ago by refinancing to more risky adjustable-rate mortgages with lower monthly payments.

Now, those homeowners and the many investors who used the same mortgages to buy multiple houses are struggling to hold on as their payments begin to increase.

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