Are Choosing to Pay Your Credit Cards Over Your Morgage?

From Annalyn Censky at CNNMoney: Consumers paying credit card over mortgage.

When faced with a financial crisis, consumers more often are opting to pay their credit-card bills first before turning to their mortgage payments.

6.6% of consumers were delinquent on their mortgages, but current on their credit cards in the third quarter of 2009.

Just 3.6% were behind on their credit cards and current on their mortgages.

A "perfect storm" of deteriorating housing prices and rising unemployment is likely the reason.

It's much easier for consumers to walk away from mortgage payments when their homes aren't building equity than neglect their credit cards when that may be the only way they're covering daily expenses.

It definitely looks like priorities are shifting as consumers are choosing food and other necessities over shelter. Hold on for more foreclosures. You might want to invest in apartment buildings soon.