Poor math skills contribute to foreclosure, mortgage study says
Quick, what's 50 percent of $300? If you have trouble answering this question, you might want to be really careful when considering a mortgage. A new study found that people who struggle with math are more likely to end up in foreclosure than people with average math skills. Participants were given a test of five math questions. The group that couldn't answer at least two correctly was four times more likely to be in foreclosure. The really interesting part is this held true no matter what type of mortgage people had. So maybe "risky" mortgages are really only risky if you're bad with numbers? – [Source]
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Mike Gallagher
Freelance writer with a passion for travelling
