Eliminating Credit Card Debt Advice

With home value increases slowing, consumers’ ability to tap home equity loans to pay off more expensive credit card and other debt is waning. “Consumer[s] can’t keep looking at their houses to bail them out of consumer debt,” he said

The impact of rising interest rates will be felt most directly at the low-end of the mortgage market, resulting in rising defaults in the sub-prime category, says Ron Chicaferro, executive vice president of Thornburg Mortgage In., a Santa Fe, N.M.-based real estate investment trust.

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# posted by Sponduliqs @ 12:41 PM