Posted on: 28th Dec, 2009 10:19 pm
We are about to be two months late on our mortgage, home equity line payment and one of our car loans, all through a credit union. I have been a stay at home mom and just went back to work 2 weeks ago. Even with my new paycheck I don't think we will be able to catch up any time soon. What is our best option to save what credit we have and possibly lower our mortgage or consolidate.
hi julieacollier,
you can look for a consolidation loan and refinance your existing debts into single monthly payment. this can help you reduce your monthly mortgage payment to a certain extent. however, you have already had two missed payments and i'm not sure what your credit scores are at present. it could be a problem for you to qualify for a refinance. in that case, you can request your lender to do loan modification on your existing mortgages. this can help you reduce your monthly payments and get current on the loans.
you can look for a consolidation loan and refinance your existing debts into single monthly payment. this can help you reduce your monthly mortgage payment to a certain extent. however, you have already had two missed payments and i'm not sure what your credit scores are at present. it could be a problem for you to qualify for a refinance. in that case, you can request your lender to do loan modification on your existing mortgages. this can help you reduce your monthly payments and get current on the loans.