Crump cited in Star Tribune article on foreclosure crisis
Posted By Michael Fraase
Apr 8, 2010 at 2:36 PM

Jeff Crump (Housing Studies) is a source for Kara McGuire's Star Tribune article, "Late mortgage payments rise in February in Twin Cities." McGuire writes Crump "has been expecting foreclosures in 2010 to shift more from the inner city to the suburbs. He blames option ARM mortgages that enabled families to stretch to buy their dream home by only paying interest." Crump told McGuire, "The bottom line is that to keep people in their homes who are currently underwater -- i.e., owing more than their house is worth -- there needs to be some sort of principal reduction."

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