U.S. homeowners are struggling to stay on top of their mortgages — and the problem is likely to get worse. According to real-estate data firm Black Knight, 4.6 million American homeowners were in some type of non-repayment as of June 16, representing 8.7% of all mortgages. If precedent is anything to go by, in many cases it’s unlikely that the mortgage lenders will ever see much of the money they’ve lent. I’ve identified one mortgage borrower in foreclosure who hasn’t made a mortgage payment in more than 13 years. This borrower took out a $342,165.10 home loan and made their last payment in August 2006. As of April ... (full story)