Who Will Default First?
Consumer Credit, State of the Economy September 20th, 2009Who would you guess is more likely to quit paying an underwater mortgage, someone with super credit or someone with subprime credit?
The answer may surprise you.
In “Homeowners who ’strategically default’ on loans a growing problem“, writer, Ken Harney, reports on research by Experian and consulting firm Oliver Wyman.
The big surprise is that a person with super-prime credit is statistically more likely to default and walk away from a mortgage that’s underwater than someone with poor credit. This seems counter intuitive.
Read the article to learn more about this unexpected finding …



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