Industry NewsMarkets & Economy

Survey: Mortgage costs motivate sellers

67% of sellers cite difficulty making payments
Published on Feb 25, 2010

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by CareyBot

Two-thirds, 67 percent, of California home sellers sold their homes because they could not make their mortgage payments, according to a report released by the California Association of Realtors on Thursday.

"Tighter underwriting standards and a decline in equity continued to impact the market in 2009," said Steve Goddard, the association's president.

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