A Mammoth One in Five Borrowers Will Default

``A leading mortgage analyst predicts over 11 million homeowners will default and lose their home if the government fails to take more radical intervention... The authors dismiss recent talk of mortgage performance improvement as statistical sleight-of-hand magically conjured by modifications... The report offers an astounding forecast of the fate of severe negative-equity properties. Nineteen percent of properties with a loan-to-value (LTV) of 120% or greater are defaulting every year. A death-defying 75% of mortgages on 120% LTV properties will eventually go bad''