Unfortunately, Australia's sustained period of escalating interest rates has meant more and more people are struggling to stay on top of their mortgage repayments.
As a result, the term 'mortgage stress' is being used far too frequently, most notably in relation to young families who have been the hardest hit.
While rates are the main financial driver of mortgage stress, it is not the only factor. Auxiliary factors include relationship breakdown, losing your job, falling sick, or stopping work due to pregnancy. Additionally, many counselling services believe soaring petrol and food costs have also played a part.
Wizard and Fujitsu are undertaking a national campaign to educate Australians regarding what mortgage stress is, how to recognise the early warning signs, and what steps can be taken to combat it.
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PDF download: 'Mortgage Stress – Don't Stick Your Head In The Sand'
Please click here to download a comprehensive report, prepared by Mark Bouris, that outlines savvy strategies that can help save your home.
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