Reports from the Northern Marianas say a majority of homeowners under a 10-year-old government-backed loan programme are in default on their loans.
The Marianas Variety newspaper quotes the Marianas Public Housing Trust and the Marianas Housing Corporation as saying 60 percent of lenders are in arrears.
Local lawmakers say many homeowners could be forced to move into smaller homes or move out of the territory because they cannot make loan payments.
A CNMI senator, Paul Manglona, says lawmakers are alarmed at the high percentage of borrowers defaulting and urges the government to help.
He also suggest repackaging the loans and reducing interest rates.