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Loan Modification

: The Truth About Mortgage.com

Most Borrowers Default on Revolving Accounts Before Mortgage

By scot184

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A new study from credit bureau Equifax claims most borrowers default on a revolving account, such as a credit card or HELOC, before defaulting on their mortgage. The company analyzed consumer credit trends using a new metric called ?default distance,? which is the number of months between the revolving debt default and the first occurrence [...]

Full post as published by The Truth About Mortgage.com on February 08, 2011 (boomark / email).

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