Which would you rather lose, your home or your credit cards?
It's a choice most of us would prefer not to face, but for some the answer is that they would rather hang onto their plastic.
In a new study of 27 million credit records, TransUnion says that since 2008 credit card delinquencies have been lower than mortgage payment delinquencies. “This 'flip' is representative of the change in the conventional wisdom around the payment hierarchy, or which debt obligations consumers would choose to pay first,” according to the company.
Foreclosure, it seems, is no longer the stain it once was.
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