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
