Mar
05
2010
More People Skip Mortgage To Pay Credit Cards
From The Wall Street Journal, March 5, 2010
U.S. consumers are starting to look like a frugal, debt-fearing lot as they pay down billions of dollars in credit-card obligations. But an alarming trend is emerging: A small but growing number of people are skipping mortgage payments in favor of paying their credit-card bills.
In an unprecedented shift, for some consumers having a credit card in good standing appears to have taken priority over having a roof over one’s head, experts said.
“This is not a carefree or nonchalant decision,” said Ezra Becker, director of consulting and strategy at TransUnion, the credit-tracking firm. “But it really is a clear …
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