With delinquencies rising, the Mortgage Bankers Association of America is urging homeowners to establish an emergency fund equal to three months' income to handle unexpected financial hardships and home maintenance costs.The MBA said the emergency fund should include money for making mortgage payments in the event of illness or loss of income. While unexpected repair bills contribute to financial problems, MBA executive vice president Paul Reid said that illness, loss of employment, and marital problems cause more people to lose their homes than all other reasons combined. The MBA's website address is http://www.mbaa.org.
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