Mortgage stress to hit 1m households

MORTGAGE stress is likely to mean little Christmas cheer for more than one million Australian households.

Home loan lender Wizard, which estimates that 837,000 Australian households are already experiencing some form of mortgage stress, yesterday predicted the figure would top the million mark by December.

Wizard Home Loans chairman and founder Mark Bouris said the findings meant a huge number of people potentially faced the loss of their property unless drastic action was taken,
The Australian reports.

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