Americans Pay Off Credit Cards Before Mortgages - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Americans Pay Off Credit Cards Before Mortgages

Posted: Updated:

Here's a sign of the economic times... Americans are more likely to pay their credit card bills than their mortgages. The disturbing findings come out a new study by TransUnion.  

The economy may be steadily improving and the mortgage delinquency rates declining, but more homeowners are still paying their credit card bills before their monthly mortgage payment. In the fourth quarter of last year, just over 7 percent of consumers paid their credit cards but not their mortgages.  That's compared to 3 percent who were behind on their credit card bills but were paying their mortgages.

Debt counselors aren't surprised by the study, saying credit bills are usually a lot smaller and easier to pay than mortgages. But it's a very dangerous practice, according to Mary Thomas with Credit Counseling Center of Oklahoma. She says people should take care of the basics first... food, shelter, utilities, clothing and car payments.  

Thomas says if you're having trouble paying your mortgage, call your lender first.  Maybe you can negotiate a payment deal. If that doesn't work, contact Credit Counseling Center of Oklahoma.

   
 

  • NewsMore>>

  • EMSA Issues 4th Medical Heat Alert

    EMSA Issues 4th Medical Heat Alert

    EMSA medics responded to eight patients with suspected heat-related symptoms within a 20 hour period on Tuesday.More >>
    EMSA medics responded to eight patients with suspected heat-related symptoms within a 20 hour period on Tuesday.More >>
  • Video of Accused Shoplifter Goes Viral

    Video of Accused Shoplifter Goes Viral

    An accused shoplifter caught in the act. On another man's cell phone. That video is going viral! It happened outside the Walmart in Coweta.A man named Anthony Smith posted the video on his Facebook page on Sunday. More than 3,800 people shared the video as of Tuesday. According to comments on the social media website, Smith followed a possible shoplifter out of a Coweta Walmart and captured the man quickly throwing a shopping cart full of groceries into the back seat of a gold SUV. The video ...More >>
    An accused shoplifter caught in the act. On another man's cell phone. That video is going viral! It happened outside the Walmart in Coweta.A man named Anthony Smith posted the video on his Facebook page on Sunday. More than 3,800 people shared the video as of Tuesday. According to comments on the social media website, Smith followed a possible shoplifter out of a Coweta Walmart and captured the man quickly throwing a shopping cart full of groceries into the back seat of a gold SUV. The video ...More >>
  • High Temps Forecasted For Center of The Universe Festival

    High Temps Forecasted For Center of The Universe Festival

    And it's bound to be a real scorcher for fans once again.Last year, the heat index was over 100. And this year, the crowd can expect much of the same.To keep things cool, the festival is working with paramedics to make sure everyone can escape the heat.Co-Founder, Phil Kaiser says, businesses will also play a big role."Part of the reason for doing it in this urban environment is that you have all of these restaurants and bars and other businesses. They're all air conditioned."More than 110 ba...More >>
    And it's bound to be a real scorcher for fans once again.Last year, the heat index was over 100. And this year, the crowd can expect much of the same.To keep things cool, the festival is working with paramedics to make sure everyone can escape the heat.Co-Founder, Phil Kaiser says, businesses will also play a big role."Part of the reason for doing it in this urban environment is that you have all of these restaurants and bars and other businesses. They're all air conditioned."More than 110 ba...More >>
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.