Filter Results

Risking Homes to Pay Off Credit Cards

The fear of overwhelming credit card debt is driving many Americans to hand their equity back to mortgage lenders in the form of "cash-out" refinances. Rather than generating cash to invest in the family's future or cover short term emergencies, cash-out refinances frequently serve as equity-draining transactions that only repay ("consolidate") short-term debts, such as credit card balances. Worse, the benefits of refinancing are often temporary, as homeowners build up additional new credit card debt and start the refinance process again.

The Plastic Safety Net: The Reality Behind Debt in America

The rapid rise in debt among American households over the last decade is well documented, but it is not well understood. Prior to the survey findings presented in this paper, there have been no data available to study how many American households are using credit cards and how they are managing their debt. To answer these questions, Demos, along with the Center for Responsible Lending, commissioned a national household survey of households with credit card debt. The survey provides new information about why households are in credit card debt, how long they have carried their debt and the...
Displaying 41 - 44 of 44