What to pay

iVillage Member
Registered: 03-25-2003
What to pay
6
Thu, 10-20-2005 - 1:43pm

We cant pay out whole mortgage payment this month. Is it better to send what we can and try to make up the differece next month? or should I just wait and make a double payment?

We have a credit card that wants 150.00 from us now and I donthave that either. I just got a new card with a zero intrest on balance transferes for a yr. after that it only goes to 14%. I am thinking that I will transfer everything over the limit to the new card for now so I stop getting charged with an over the limit fee.

iVillage Member
Registered: 07-11-2001
In reply to: jmjsgirl
Thu, 10-20-2005 - 4:40pm

Kristina -

I wouldn't worry about any of your other bills, put everything, I mean everything, you have to your mortgage payment. You are better off not paying your credit card, your electric bill, anything but your mortgage.

I wouldn't worry about what the CCs want, just take the hit with fees but you must make that mortgage payment. If you can call someone in your family please do so. Getting behind your mortgage will be an unending cycle you do not want to get into.

Let us know what happens.

iVillage Member
Registered: 12-05-2004
In reply to: jmjsgirl
Thu, 10-20-2005 - 6:14pm

I agree. The house payment comes first. It's secured debt, and if you don't pay it, you put your home at risk. If you don't pay a credit card bill, all they can do is contact you for payment. No risk to your home.

Is there someone you can get the extra house money from this month?

Pat

iVillage Member
Registered: 03-27-2003
In reply to: jmjsgirl
Thu, 10-20-2005 - 7:02pm

I agree with the others--pay the mortgage in full! Go to a soup kitchen and skip groceries this month if you have to, but don't miss your mortgage payment. Nothing could be worse for you financially than getting behind on house payments.

The utilities might cut you off, and the credit cards might call you every day threatening to sue (though they probably won't actually sue unless it gets a lot worse), and your family might miss having snacks on hand, but at least you won't be homeless and deeper in hock, which is exactly what will happen if you lose your house (even if the bank forecloses, that doesn't mean you don't still owe on the mortgage--they'll charge you for any difference between what they sell your house for and what you owe on it, and trust me, they won't be trying to get a good price for your home. Additionally, they'll charge you all kinds of processing fees and other nonsense--foreclosure is NOT a pretty scene!!).

I *am* sorry for your difficult situation. I've been there, though without the mortgage at the time, and it's scary and frustrating and stressful. I hope things look up for you soon.

Blessings,

Heather

iVillage Member
Registered: 03-25-2003
In reply to: jmjsgirl
Thu, 10-20-2005 - 9:43pm

Thanks everyone. I will pay what I can to it. We still dont have the whole payment even if I stick everything in our account onto it. I will pay everything I can till the next one.

Thank you for your advice.

iVillage Member
Registered: 10-14-2005
In reply to: jmjsgirl
Thu, 10-20-2005 - 10:04pm
Kristina,
I would contact the mortgage company to see if you can make a payment arrangement. From my past experience the mortgage co. might not post the payment to your loan therefore it will show as if you never made a partial payment. They hold the payment in a separate account until they have the full payment. Good luck.
Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
In reply to: jmjsgirl
Fri, 10-21-2005 - 2:38am

I highly recommend you contact your mortgage lender.

All my best,
Danni