{"id":26207,"date":"2011-05-16T18:14:05","date_gmt":"2011-05-16T18:14:05","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/americans_shed_mortgage_debt_at_record_pace\/"},"modified":"2011-05-16T18:14:05","modified_gmt":"2011-05-16T18:14:05","slug":"americans_shed_mortgage_debt_at_record_pace","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=26207","title":{"rendered":"Americans shed mortgage debt at record pace"},"content":{"rendered":"<p>&#8220;This is a form of economic stimulus that goes to Main Street rather than Wall Street,&#8221; says Nicholas Carroll, a journalist on consumer finance and author of Walk Away From Debt for a Better Future. When freed from a mortgage payment, people&#8217;s first purchases tend to be necessities, such as socks and underwear, he says.<\/p>\n<p>Homeowners have trimmed interest payments alone by 11% \u201d\u201d or $67 billion a year \u201d\u201d from the peak in 2008, according to the Bureau of Economic Analysis (BEA). The savings come equally from grabbing lower interest rates and reducing what&#8217;s owed by paying down principal or defaulting on loans.<\/p>\n<p><a href=\"http:\/\/www.usatoday.com\/money\/economy\/housing\/2011-05-15-mortgage-debt-money_n.htm\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;This is a form of economic stimulus that goes to Main Street rather than Wall Street,&#8221; says Nicholas Carroll, a journalist on consumer finance and author of Walk Away From Debt for a Better Future. When freed from a mortgage<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=26207\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,582,149,597,593],"tags":[],"class_list":["post-26207","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-consumerconsumer-spending","category-economy","category-laborlabor-unionslabor-market","category-personal-finance"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/26207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26207"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/26207\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}