The Columbus Dispatch recently ran a news article explaining a trend that some folks are staying current on their credit card payments but falling behind in their mortgage.  The problem with this logic is that you cannot live in your credit card. 

 

Credit card debt is, by definition, unsecured debt.  If you default on your obligations to the credit card company, they cannot take your house.  In contrast, failing to pay your mortgage can lead to foreclosure and the loss your home.

 

Your first priorities with your money should be food, clothing and shelter.  If you cannot pay anything else, you should make sure that these things are accounted for.

 

To see the full article, go to http://www.dispatch.com/live/content/business/stories/2007/09/23/credit_still_good.ART_ART_09-23-07_D4_7S7V5QE.html?sid=101