Struggling to pay mortgage
MORE than 1000 home owners are struggling to repay their mortgages after cyclones and flooding wreaked havoc across Queensland, a major mortgage insurer says. Genworth Financial, which issues lenders mortgage insurance, has reported a 70 per cent rise in ‘‘ hardship applications’’ over the past quarter, with Queensland residents accounting for the majority of the claims. Genworth chief executive Ellie Comerford said the aftermath of floods across the east coast and bushfires in Western Australia was causing great concern. ‘‘ They are really impacting on the overall consumer sentiment in terms of confidence and outlook,’’ Ms Comerford said yesterday.