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South Florida Mortgage, Credit Card Debt Balances Drop Sharply
News from Huffington Post:

South Floridians are taking their New Year’s resolutions seriously when it comes to reducing their debt. Average credit card balances dropped a whopping 12 percent in January compared to a year ago, according to the consumer website CreditKarma.com.

The average credit card debt was $ 5,410 in Broward and Miami-Dade counties, down $ 746 from January 2012 when it averaged $ 6,156, Credit Karma reported.

Average mortgage balances also fell during the same time — dropping $ 10,862, or 5 percent. The average home loan in South Florida plunged from $ 205,809 to $ 194,947 in a year as some owners paid down the principal on their mortgages, Credit Karma found.

Recession-toughened South Floridians are still focusing on paying down debt — even as the economy improves, said Credit Karma CEO Kenn…………… continues on Huffington Post

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