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what would you do...

if you can't really pay your mortgage this month but you think if i pay other bills late and pull money from credit cards but limits are low so it will max out this one time and seeing into the future that the follwoing months will be the same...would you go ahead and do this and pay the mortgage or just figure why cause your going to loose your house anyway and should probably save your money now. i have sold what i could & still have 3 things to sell that haven't sold but nothing that would make much of a difference. so would you pay the mortgage hoping something works out or just give up? i kinda see the end is near & we'll just bury ourselves deeper and should just not pay it. quit now while i'm ahead attitude. normally my mom lends us money but she is trying her tough love on my husband now since it was he who decided to take off work & got deep into this mess. i agreed he should of gone, important & all but it hurt us


Asked by Anonymous at 12:46 AM on Nov. 14, 2010 in Money & Work

This question is closed.
Answers (5)
  • I know what you are saying and I had this same conversation with a friend of mine last year. I see you are saying they you are either going to default on the mortgage this month, or a month in the near future. You don't have the money for the payments, and this is a recurring problem, even if someone gave you all the money for this payment - it's going to be a problem next month.

    Selling everything you have to make another payment is like using a garden hose to put out an inferno, right? It isn't going to help much. You could save that cash and tuck it away (in CASH) to spend on important things in the near future - food, gas, rent, etc. I think that's ok to do, but your foreclosure (and removal from the home) is going to be one month sooner if you default now. Have you thought about the next step? When you lose the house, where will you go? If you are ready to cut the mortgage free, start planning the next step.

    Answer by at 6:53 AM on Nov. 16, 2010

  • You need to either increase your income or cut your expenses.

    Answer by rkoloms at 8:14 PM on Nov. 14, 2010

  • What I would do if I was in this situation, I would try my hardest not to max out the credit cards, I would pay half of mortgage on one paycheck and pay on some bills and pay the other half of the mortgage with another paycheck and pay on some of the bill, thats just me

    Answer by looovemybabies at 1:06 AM on Nov. 14, 2010

  • we only get 2 paychecks and were taking one to pay all of mortgage that leaves nothing to pay any of the bills and then with the next check the mortgage is due. aw i hate living pay check to pay check. i'm thinking maybe he shouldn't of gone to funeral after all if it means us losing our house. i'm sure his dead cousin wouldn't want us to be loosing our house.

    Comment by Anonymous (original poster) at 1:22 AM on Nov. 14, 2010

  • Financial experts say you should always pay your mortgage first and then worry about the other bills. Why? Because keeping a roof over your head is the priority. The other bills won't matter if you don't have anywhere to live.

    Answer by HotMama330 at 4:35 PM on Nov. 16, 2010