Around the Net
People More Likely To Pay Car Loans Than Mortgage
- USA Today, Wednesday, April 4, 2012 10:30 AM
An analysis of about 4 million people who had at least one open auto loan, bank card and mortgage in 2011 found that about 39% of consumers were delinquent on their mortgage while current on their auto loan and credit card payments.In contrast, 9.5% of consumers were delinquent on an auto loan while current on their credit cards and mortgage. "Consumers need their cars to either get to work or seek employment," says Ezra Becker, vice president of research and consulting at TransUnion, citing the "still stubbornly high" unemployment rate of 8.3%.
