REAL ESTATE DECISION SUPPORT

A recent study indicates that credit-card payments are now given a higher priority by consumers in Colorado than mortgage payments.  Performed by TransUnion, the study found that the rate of delinquency for mortgages has increased from 3.07% from the 4th quarter of 2007 to almost 5.0% for the same period of 2009 but stood at only 1.07% for credit cards.  The study concludes that consumers are favoring paying their credit cards over their mortgages due to their higher practical value, as the payment structure for credit cards maintains the ability of the borrower to spend when he is short on income by accepting partial payment of the full amount due.