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Non-Mortgage Debt a Potential Concern for Lenders

Tuesday, August 4, 2015

Returning to economic normalcy apparently means that Americans are back into heavy-debt mode.  Black Knight Financial Services said today that levels of non-mortgage debt at the end of April were at the highest levels in 10 years. 

The company looked at average overall non-mortgage debt of persons who hold a mortgage and at the components of that debt in the current issue of its Mortgage Monitor.  The average debt level of those individuals is just about $24,800, up from $23,400 in April of last year.  Non-mortgage debt hit a recent low in 2011, averaging $22,230, so the newer number is an increase of $2,600 in four years. 

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