More than a fifth of sub-prime mortgages at risk

HHSE has rereleased research showing that thousands of homeowners with high risk sub-prime mortgages could lose their homes before the end of summer, after a survey found that more than 22 per cent of respondents are struggling to pay their mortgage. More than 160,000 households are either struggling or falling behind on payments are resorting to borrowing from friends, using credit cards or taking out loans to pay, while more than 35 per cent – the equivalent of 260,000 households – say they would be unable to met their mortgage payments if their income dropped significantly.