Posted on: 06th Nov, 2010 08:11 am
my husband is off work waiting for disability. this is six months. we will be short to make all our payments for one month of that period and will fall about $500 short once di payments start. is it better to not pay credit card or mortgage? do we give the house back with a deed in lieu of foreclosure? what are the options?
You can negotiate with your creditor and get a payment plan for your credit card debts. This will make it affordable for you to pay off the dues. If you want to save the property, then you can apply for a loan modification and get affordable rate and term from the lender.
If you want to dispose the property, then you can apply for a deed in lieu of foreclosure. However, this will have a negative affect on your credit scores.
If you want to dispose the property, then you can apply for a deed in lieu of foreclosure. However, this will have a negative affect on your credit scores.