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More good news for the housing market, as people now prioritize the mortgage bill ahead of car loan and credit cards. FORTUNE -- In another sign the U.S. housing market is recovering, financially distressed borrowers are starting to make their mortgage payments before their credit cards bills -- a near reversal of a trend that emerged after the housing market crashed. It's a positive development, reflecting the rebound in U.S. home prices and fewer borrowers stuck with mortages worth morethan their homes, according to a study released Thursday by Transunion, a Chicago-based credit information provider. As home values rebound, borrowers have a bigger incentive to pay their monthly mortgages on time. They've long paid their auto loans first, followed by their mortgages and credit cards. That pattern changed during the housing downturn, as many cash-strapped and jobless borrowers valued their credit cards more than their homes. Researchers say the switch had a lot to do with collapse of the housing market, but it's also important to note that laws protecting homeowners were also a factor. Whereas a bank could repossess your car in a matter of days or months, it could take months or even years before your home is repossessed. 具体内容链接- http://finance.fortune.cnn.com/2013/09/19/mortgage-payments
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发表于 2013-9-25 10:21:45
