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Which gets paid first, mortgage or credit card?

By Bill Gephardt | Posted - Mar 21st, 2014 @ 8:55am

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SALT LAKE CITY — It could be a sign of things finally returning to normal as more people are putting mortgages ahead of credit cards for the first time in years.

Also, several states are throwing up roadblocks against Tesla Motors.

Mortgages ahead of credit cards

When it comes to paying the bills, the mortgage is once again more of a priority for many U.S. homeowners than their credit cards.

That's the conclusion of a study released Wednesday by credit reporting agency TransUnion.

It crunched 10 years' worth of numbers and found Americans are once again prioritizing their mortgages over credit card bills, something that hasn't happened since 2008.

Analysts said the trend shows recovery in the housing market and hiring. The shift comes as U.S. home values have been climbing, allowing many homeowners to build equity in their home and lifting others into positive equity after years owing more on their home than it was worth.

An improving job market and greater access to credit cards also have contributed to the change.

Still, the No. 1 bill-paying priority of most Americans is keeping up on their car loans.

Tesla reviewing options

Tesla vows it will find a way to sell its all-electric cars directly to consumers.

Last week, New Jersey's Motor Vehicle Commission announced it would enforce its decades-old rules requiring cars to be sold through dealers, not by manufacturers.

Tesla has run into similar potholes in other states; Arizona, Colorado, and Texas among others.

Tesla said it's studying options in challenging state bans on the direct sales of its cars.

Egg valued at $33 million

A Faberge egg presented by Russian Czar Alexander III to his wife as an Easter gift in 1887 is worth $33 million.

A scrap dealer said he bought it from an American antiques dealer years ago for $14,000. The scrap dealer didn't realize the treasure it was until recently, when a British arts and antiques dealer confirmed that the egg is genuine. He estimated its value at $33 million.

The egg has since been sold for an undisclosed amount.

Contributing: The Associated Press


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