Relevant:
- California Deadbeats Ditch Their Mortgage, And Save Their Cash For Their Credit Card Bills
- Borrowers pay credit-card bills, let mortgages slide
- As lenders clamp down, credit scores take a hit
- FICO Spots Disturbing Trends in Consumer Credit Behavior
- Bernanke: Mortgage Lending an Exception to Improving Picture (No Sh-t Sherlock!)
2010-02-09 — usnews.com
"Before the housing crisis, bankers typically operated under the assumption that homeowners would do whatever possible to remain current on their mortgage—even if that meant falling behind on other bills. "It used to be that the mortgage was sacrosanct," says Keith Gumbinger of HSH.com. "You paid it before anything else." But a combination of factors linked to the current economic mess—falling home prices, high unemployment, and tight consumer credit—have lead many consumers to prioritize credit card payments above mortgage bills."
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