John Ulzheimer
Card payments are taking precedence over mortgagesPosted by RJ and Makay on Apr 05, 2011 |
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In an odd trend that has persisted for several years now, consumers have been keeping up with their credit card payments even when they're behind on their mortgage, says credit reporting firm TransUnion.
Among consumers with a mortgage and at least one credit card in the fourth quarter of 2010, 7% were 30 or more days late on the mortgage but current on their credit card, TransUnion reports. That rate was about 4% in the first quarter of 2008, when the trend first appeared nationally.
