 Unfortunately, Australia's sustained period of escalating interest rates has meant more and more people are struggling to stay on top of their mortgage repayments.
As a result, the term 'mortgage stress' is being used far too frequently, most notably in relation to young families who have been the hardest hit (Data collated by Fujitsu Consulting predicts more than 900,000 Australians will suffer some form of mortgage stress by September this year.) Much of this financial pressure is due to the fact the Reserve Bank of Australia (RBA) has increased rates 12 consecutive times since May 2002, and the cash rate is now at its highest level in more than a decade. While rates are the main financial driver of mortgage stress, it is not the only factor. Auxiliary factors include relationship breakdown, losing your job, falling sick, or stopping work due to pregnancy. Additionally, many counselling services believe soaring petrol and food costs have also played a part. Wizard and Fujitsu are undertaking a national campaign to educate Australians regarding what mortgage stress is, how to recognise the early warning signs, and what steps can be taken to combat it. | |  | | | What is mortgage stress?
Experiencing mortgage stress? You can't solve a problem if you're unaware it exists. [read more] |  | | | Take the test
One million Australians will suffer mortgage stress this year. Does this mean you? [read more] | | |  | | Where are you?
The first signs of stress to foreclosure takes about 30 months. Where are you on the mortgage stress escalator? [read more] |  | | Case studies
Read these sobering stories of everyday Australians suffering mortgage stress. [read more] |  | | What can you do?
Mark Bouris is determined to educate all Australians about strategies that can save you from losing your home. [read more] |  | | Wizard budget tool
This free download can help you track your expenses and work towards your savings goal. [download now] |
 | PDF download: 'Mortgage Stress – Don't Stick Your Head In The Sand'
Please click here to download a comprehensive report, prepared by Mark Bouris, that outlines savvy strategies that can help save your home. |
Things you can do next  Apply online for a Wizard home loan.
Make an appointment to see a Wizard Home Loans lending manager.
Compare a Wizard home loan to any competitor's loan.
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