Another biggy is going to be credit cards.
Virtually no-one is talking about them, yet long before people default on their homes they have maxed out their credit caed limits (often making the last house payment with the last of their cards credit).
In some regards credit card default is worse than mortgage default because there is usually absolutely no recoverable asset attached to the credit card debt, whereas at least there is a property to seize against a mortgage.
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Another biggy is going to be credit cards.Virtually no-one is...
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