A letter to the editor in the Wall Street Journal Essay - 6

A letter to the editor in the smother Street Journal - Essay Examplets ahead of credit cards, I would like to bring to your worry my support and satisfaction towards the article and the author because I felt that it high-pitchedlighted the reasons for that fee trend and was straight to the point. The payment of Mortgages before the credit card has been the normal way and has been in effect for a very pine period of time, this is exactly what lenders expect from consumers.New information from TransUnion, which is a firm that deals with reporting credit cerebrate information, supports this stand that normal payment methods were back to effect at the end of the year 2013 due to a rise experienced in home values. The main findings from the research carried out shows strong links among the value of homes and payment behaviors.Further supporting this case is the findings that were published from all the fifty states in the coupled States which clearly point out that a decline in ho me values together with high unemployment rates saw borrowers skip mortgage payments but still make payments on their credit cards. at that place is an example of Nevada, between the years 2006-2009, where the value of houses went down by 57%. Borrowers were seen to skip making mortgage payments while staying true to credit card payments. Its clear that people would be more willing to default on mortgage payments because foreclosure is non really an immediate problem. it involves a long process which takes months if not years. Credit card payments on the other hand would be hard to miss, by doing so the reception would be immediate. Banks should therefore continue to ease standards on mortgages to the payments of mortgages ahead of credit