More consumers pay credit cards before mortgages

A growing trend in today’s down economy is cash-strapped consumers paying credit card bills before mortgage payments–in part, because the consequences of skipping a mortgage payment seems far off, as legal wrangling over foreclosure can go on for months, the Washington Post reported yesterday.

Maryland Legal Aid’s Blake Fetrow, chief attorney of the Metropolitan Maryland office in suburban D.C., said he regularly counsels families to take care of bills first and creditors second.

“That’s a very personal thing,” Fetrow told the Post. “Is it going to be the heat? Is it going to be the water? What do I have to leave off to make i through this month?”

To read the article, click here.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s