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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?


To: MythMan who wrote (14965)3/18/1998 11:17:00 AM
From: yard_man  Read Replies (1) | Respond to of 18056
 
>>Carol Kurth, education coordinator for Credit Counseling Centers in
Farmington Hills, Mich., thinks families are not more debt free but
simply trading in one type of debt for another.

For example, many more are taking out home equity loans, sometimes
for 125% of the house's value, to pay of their credit cards. "People are
not getting rid of debt, they're changing how they're paying for it," she
said. <<

I heard that crud on NPR today. The report is about as good as the one a few weeks back on the budget surplus. Bogus as ...



To: MythMan who wrote (14965)3/18/1998 12:04:00 PM
From: Mike M2  Respond to of 18056
 
Pete, note that near the end of the article it said credit card delinquencies as % of outstanding balances are rising. Just a guess but the rise in # of home refinancings may have something to do with this blip. I still say there is too much debt. I still talk glomm and doom -g- Mike