My husband and i are divorcing. we have been married for 24 yrs. we pay all our bills on time. i did accidently pay a credit card late for 2 months in a row. i deducted it out of checkbook but didnt pay online. he is on disability and i am the main provider. we are starting to get into debt and i will have to take the majority of those debts. we owe approx. 3500.00 per month in bills but bring in approx 6200. however we cant seem to manage to save any money. we have been cutting way down on wasting money however we still havent been able to save.
we have 2 mortgages. the first we owe 44 thousand and it would have been payed off in 6 yrs. However the pymt is 900.00 per month.We are now paying mostely on the principle. we also took out a 2nd mortgage which is appr 54 thousand. the min paymnt is 300.per month which is all interest. i try to pay at least 400.00. My husband nor I can pay these pymts by ourselves. I dont know whether to try to refinance or try to put the house on the market or just let it go back to the bank. I am thinking the “value is approx 120,000 thousand”. our credit scores are around 720.
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