YBK [Part 9]: As if rising foreclosures and the looming housing bubble weren't enough to worry about, here's something about to come down the pipeline from the credit card industry: rising monthly payments. According to MarketWatch, credit card companies are expected to raise the minimum monthly payment from 2 to 4% of the balance in the next couple of months:

"Ultimately, the new policies are better because it can take forever to pay off the principal under current credit-card policies," says Michael Keene, vice president of new program development for nonprofit Money Management International, also known as Consumer Credit Counseling.

"But it will present some short-term problems for a lot of folks living on the edge, barely able to make minimum payments now."

Things might get very ugly pretty soon for people already in default on their monthly mortgage.
[My previous YBK posts are here, here, here, here, here, here, here and here].