sacramento foreclosure: they would pay their credit card first, before their mortgage payment
- 09/02/07 08:31 AM
In a surprising survey (very surprising?) released last week, Experian showed that data indicates that many subprime borrowers are paying off their credit card bills before their mortgage payment! Do they think that they don't have much to lose by not paying their mortgage? Are their credit cards more important? Prime borrowers, by the way, haven't changed: they are still less likely to be late on their mortgage than on their credit cards. Check out: http://www.businessweek.com/bwdaily/dnflash/content/jun2007/db20070620_271294.htm
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