Help! I can’t pay my mortgage anymore! And I don’t want to pay it anymore. What now?
I recently lost my job. I am looking for another, I asked my loan company (Litton) to defer my payments and they have not yet. They are sending me paperwork to fill out to request a payment plan or lower bill, but that will take a month to get an answer. i have been in good standing, but I don’t have the money this month to pay. So I guess it will soon be on my credit report that I have missed a mortgage payment. This comes on the heels of having filed bankruptcy 2 years ago. I have put the house up for sell, and have decided to relocate to get a job. I know it probably sounds better to stay where I am at, fight the good fight , work at pizza hut and pay the mortgage. But I kind of decided to move before I lost my job, but losing it makes things a bit tighter. Anyway I feel its time to move on and I’m doing so regardless. I’m sick of the debt. i don’t want to file bankruptcy again . I didn’t include the mortgage before, maybe I should have.
I wanted to pay the mortgage, but now that I am in between jobs its a huge hassle and a financial suck tank. I’ve decided I never want any credit of any kind again. I’m ghoing back to the old fashion way save and purchase. All these creditors and banks are a bunch of crooks, piling interest on the loan and doubling teh debt so you have to pay it now for 70 years if you don’t add extrat to pay the principle. So what happens if I’m foreclosed on worst case scenario? I just want to go back to square one. the only debt i want is my student loans and i’m gonna pay that off and be done. If I get a job soon I will pay the mortgage, but if not then what? Should I file bankruptcy again?
Just me, your right bankruptcy is irresponsible and childish, but so was your answer. I will admit I bare a huge responsibilty cause it is my debt and my credit. But I am no different than millions of americans who were stupid. I’m paying teh price cause someone got a loan and ran off with the money. Now someone else will pay the price because I may or may not get foreclosed on. It’s a vicious cycle but it has to stop somewhere. And yes the banks do bare a lot of responsibility because they don’t try to work with you and they charge an astronomical amount of interest. They are the credit pushers and I was a credit junkie. But I have hit rock bottom and admitted I have a problem so I am going into debt rehab. What debts I owe now I am going to try to pay off, but no more credit, no credit cards, no mortgages , no car loans , none of it ever again. I know it will take time, but i will evetually dig myself out of the hole and afterwards I’m paying cash on everything.