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Article: Late payments increase for home equity loans
- Article from:
- Capital (Annapolis)
- Article date:
- July 3, 2007
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Copyright informationCopyright 2007 Capital (Annapolis). Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON, D.C. (AP) - Late payments on home equity loans climbed
to a 1-year high in the opening quarter of this year, while
delinquencies on credit card bills fell, painting a mixed picture of
how people are managing their debt.
The American Bankers Association, in its quarterly survey of
consumer loans, reported today that late payments on home equity
loans rose to 2.15 percent in the January-to-March quarter. That was
up sharply from 1.92 percent in the final quarter of last year and
was the highest since the late summer of 2005.
"There are still signs of consumer financial distress, which will
continue throughout most of this year as the worst of the housing
problem works its way ...
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