However, the rate of new borrowers falling behind in mortgage payments had begun to decrease.
The new borrower will insist on some element of non-recourse.
Where can a new borrower go for his or her first credit account?
These civilized new borrowers were vulnerable through their families.
But that just means that they have become more expensive for new borrowers.
Now, however, increases in interest rates are quickly passed along not only to new borrowers, but also to those with loans outstanding.
Some have gone even further and are offering free mortgage protection insurance for new borrowers.
Initially they will tend to offer an incentive deal to attract new borrowers.
According to a recent survey, one in four new borrowers takes out unemployment insurance, double the number of three years ago.
But new borrowers will not get the repossessed homes for a song.