Why Should I Pay My Mortgage?
Posted on September 9, 2009 at 2:51 am
can any one tell me why should i pay my mortgage? i hardly have any money to bring on the table now... aside from that i have a LOT of debt. and thats an understatement
Posted on September 9, 2009 at 3:07 am
"Why should I pay my mortgage?"
Well, the most glaring answer to that is, because you run the risk of losing your home if you aren't able to pay for your home. Mortgage is considered as an essential debt and as such, it is necessary for this to be taken care of. A home is considered as a basic necessity.
Could you fill us in further on your financial situation?
Posted on September 9, 2009 at 3:48 am
aside from the mortgage i have credit card debt which i am considering to settle. but i am thinking about filing bankruptcy also, to get all this over with
Posted on September 9, 2009 at 3:55 am
How much is your credit card debt currently, if you don't mind me asking? There are options, ways if you may, to get them taken care of. Hope we would be of help to you.:)
Posted on September 10, 2009 at 3:11 am
Thanks Lurker. I oew around $22k in credit cards. I also am about to owe on utilities. Can i consolidate them all?
Posted on September 10, 2009 at 4:22 am
You cannot consolidate the debts that you owe on the credit cards and utilities, but you can consolidate the credit card debts together.
Also, to answer "why should I pay my mortgage?", inability to pay for your mortgage will result in a drastic drop on your credit score, and also you may end up severely limiting your buying power in the future.
Posted on September 16, 2009 at 4:08 am
What you can do with the credit card debts you have is consolidate them, though. Are those debts behind on payment?