Seeing trouble coming
Date: Sat, 04/07/2007 - 06:29
I have some small unsecured debts 1396 for computer two credit cards total 1300 and a truck loan total of 5400 of which i have never missed a payment in nearly 4 years I purchased this truck under a payment shaver loan somewhat like a lease but i can use it to trade in or refinance the balance, the loan matures in may. I also have a home mortgage with a balance of 19400, that is woth approx. 36000 and am one month behind on payment. the delinquent computer and credit card accts. are keeping me from obtaining a home equity loan to consolidate my debts. in addition i have also rec. two payday loans to pay my gas and electric bill to avoid shutoff. the only finance (local) company that could offer some assistance said they could give me a refinance in 6 mo. if i make 6 consecutive payments. with all of these things happening, by that time my credit will get worse. does anyone know where to get help with an equity loan or other suggestions to get this under control before it gets worse. i have already applied to many online offers but htey will not help because my home is not worth a min. 50000 to 80000. thanks
You are one month behind on your mortgage. You need to contact t
You are one month behind on your mortgage. You need to contact them first to work out a modificaiton on your loan. Explain your situation, most banks will modify a home loan on a short term basis to prevent foreclosure. You don't want to lose your home, I would call them first since you are only one month behind at this point, which isn't too bad. You don't want to wait until you are any further behind to work out something with the mortgage company it may be too late for you to afford the modificaiton terms. Have you contacted a local consumer credit counseling agency? I would also do that they may be able to help. You don't need a loan to consolidate your bills.
