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One-in-four home mortgage holders on a payment vacation state it will be 'touch and go' whether they can service their loan when mortgage repayments resume, finds brand-new research offered specifically to Yahoo Finance by comparison home Mozo.

Worse, 3 percent simply will not be able to service their loan, which Mozo states equates to nearly $7 billion in defaulted loans.

Data for August from regulator APRA show there are presently $229 billion in house, service and individual loans on payment deferments. This represents about 8.5 per cent of overall outstanding loans across Australia.

Why a lot of? Mozo's study of more than 3000 property owners reveals 29 percent have actually just recently lost their task and 16 per cent have actually had a pay cut.

Remarkably, 54 percent of those on repayment vacations report being unaffected.

However unsurprisingly-- considered that women make up most of employees in the most-affected markets (such as retail, hospitality and tourist)-- women are twice as fretted as males that they'll default on a home mortgage.

Initially, loan providers-- in here show with the Australian Banking Association-- offered six-month repayment vacations. They then put another 4 months on the table in far more restricted situations.

By the end of September, the Australian Banking Association reports that 80,000 mortgage deferrers had been gotten in touch with by their lenders about rebooting payments.

Mozo director Kirsty Lamont says: "As the holiday duration unwind, lots of home loan holders find themselves needing to make the weighty financial choice as to whether they can afford to service their loan or [need to] sell."

And that feeds into the next stat ...

A difficult choice for many home mortgage holders

A massive 62 per cent of home mortgage holders on vacations are worried about having to sell their house, or foreclosure, in the next year ... a reality that highlights how many Australians feel susceptible.

"Individuals feel their footing is tenuous as the economic outlook for the next 12-18 months stays very much dirty," Ms Lamont states.