End of mortgage moratorium means foreclosures set to rise
At the end of March 2013, the home loan moratorium expired, creating potential for a mortgage crisis in Japan. Households struggling to make repayments are beginning to panic as forecasts suggest interest rates are set to rise.
While banks are not likely to immediately foreclose on all late-payers, there is a chance we will see an increase in bank foreclosures on well-located properties in the later half of 2013 if land prices increase.Read more