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A newly released study carries significant weight, defying the popular belief that homeowners who defaulted on their mortgages during the economic downturn are irresponsible deadbeats who can’t manage money.

The study, conducted by TransUnion, one of the three national credit bureaus, concludes that many of the homeowners who defaulted on their mortgage only did so because of the recession and can be otherwise deemed good credit risks.

“Our argument is that this economy disproportionately affected certain people in a way akin to a one-time crisis. Those consumers have not in fact forever changed their personal philosophy on repaying debt. It was a one-time event because of the specific and personal circumstances of the recession, and they otherwise would be good credit risks,” Ezra Becker, TransUnion vice president of research and consulting said.

Read more on SF Gate.

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