Quote:
Originally Posted by Radiance
This really makes me think. When facing problems paying the mortgage, everybody advise pay the mortgage first and then the rest.
Given what I know now, I disagree, It seems that if I pay everything else but the mortgage, companies will be willing to ignore my foreclosure AS LONG AS I don't have other defaults.
If I follow the advise, I will get myself in more trouble than JUST the mortgage. I had refused to max out my credit cards in the name of keeping my house because I don't want a foreclosure AND tons of debt.
Besides, they tell you that if you stay rent free, use that time to save and get out of debt... THis is a huge contradiction to the advise of pay the mortgage first and the other creditors are less important or have less impact on your credit. It seems to me it is the other way around
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I understand whre you are coming from, but for someone who has the ability to pay their mortgage this really should be a priority. Shelter is a necessity. Of course, shelter comes in many forms and price ranges.
You have arrived to the point where you can't afford your home. You did make the right decision not to max out credit cards to afford your home. No one should ever do that.
I have heard that one should buy food first, pay utilities (water/gas/electric) and then housing.