Madamenoire Featured Video

(Associated Press) — It’s not just mortgages that are upside down.  People are staying current with their credit card payments even when they are behind on their mortgage, continuing a trend first seen three years ago.  Data now shows that the flip was even more pronounced at the end of 2010, long after industry experts expected patterns to return to normal.  Among consumers who had at least one credit card and a mortgage, 7.24 percent were 30 days late on mortgage payments but current on their card payments at the end of 2010, credit reporting agency TransUnion said. That compared with 4.3 percent in the first quarter of 2008, when the change was first seen on a national basis.

Read More…

TRENDING ON MADAMENOIRE
Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN