MORTGAGE DURESS, JOB LOSSES AND CREDIT CRISIS FOR CONSUMERS. CNN Money has written about the findings of a new report (see link below). In brief, the report is characterizing the relative credit worthiness for each of the states in the U.S. (Sort of like a credit score across the nation). The report shows a credit crisis at an extreme, and includes a projection that it will get worse.
It also shows that some states are worse off than others, including Mississippi, Texas, Nevada, South Carolina and Louisiana.
“We’re collectively about 27% riskier credit bets than we were a decade ago, according to the TransUnion credit bureau. The firm’s national Credit Risk Index for the first quarter of this year clocked in at 127.3 compared to the 1998 start-point of 100. The index is based on the average weighted probability of 90-day delinquencies on mortgages, auto loans and credit cards.”
Click here for full Credit Crisis article.
