Eugene David
...The One-Minute Pundit

Thursday, June 21, 2007


For generations, homebuyers have had one simple rule drilled into their heads: Whatever happens, keep paying the mortgage. If you don't, you risk losing your house and all the equity you've built up in it.

But for many subprime borrowers, that doesn't seem to be the rule of thumb anymore. They are now more likely to be late on their mortgage than on their credit card, according to a new study from Experian Group, the Ireland-based company that maintains a huge database of consumer credit histories.


TRANSLATION: People do not need a roof over their heads in order to EAT.

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