Tag Archives: upside down
- Wife Left, Business is Down, and I’m Out of Money. – James
“Dear Steve, Ex left 5 years ago. I took on the house that is 70k upside down the 4 kids, the credit card debt , the tax debt, the parent plus loans, the counseling fees for the kids. @ the time my contracting business could handle all of this.The my work load was cut in [...]
- Lost My Job, Upside Down in Mortgage, and Our Expenses Far Exceed Our Income. – Doug
Doug “Dear Steve, I have lost my job, We have a huge overhead and with the current economy, we have tried, but unable to sell our house for loan value. Upside down with bills 4 to 5 times what is coming in. Applying for jobs but nothing yet and have depleted savings and 401 ks [...]
- Should I Take Money Out of My IRA and Use it to Pay Off Debt? – Dan
“Dear Steve, Ok, here goes. I have spent the past many years (decades) coming and going from home; being away so much I never paid much attention to the bills. Recently I changed jobs and noticed my wife stressed out, upon investigation, discovered we owe $109,000 to credit cards. We almost own (still have a [...]
- I Was Wondering if it Would Make Sense to Liquidate Part of our IRA and Pay Off the Mortgage? – Ken
“Dear Steve, I have lost my job due to a so-called “voluntary” early retirement program. I am looking, but have yet to land another job, and at 55 I dont think my chances are great of making anywhere close to what I was making in my last job. Our children are grown and on their [...]
- I Am Confused And In Trouble With My Option Arm Mortgage. – Kim
Kim “Dear Steve, Husband and I take home $6,200 p/m. 1st mortgage $355k changes per libor 6 months, monthly $1300, 2nd mortgage $110k, 15 year fix, $867 p/m to end in 11 years. Home is upside down. value now $270k. Credit cards approx $45,000 about $760 p/m, car loans $37k, $529 p/m. no retirement/ira and [...]
- Our Debt is From IVF Treatments But We Are Also Underwater On Our Mortgage. – Rob
“Dear Steve, Key Points. Combined 150K salary with wife. 47K in CC debt (9 different accounts – all APR at 11% and below. 8k loan (0% interest for new windows for house). 80/20 mortgage with first loan I/O ARM (reset Feb 2012, at 6.75%, balance is 284K. Second mortgage at 8.58%, balance is 69,842. 38k [...]
- My Car Payments and Car Insurance Are Killing Me Financially. – Greg
Greg “Dear Steve, Car payments and car insurance are killing me financially! I don’t know what to do on my car payment anymore? I’m getting financially stressed! Its extremely high and I pay high interest, plus I have another car I owed on and traded it for this new car and what was left on [...]
- Dayna Can’t Afford to Keep Her Car Or Get Rid Of Her Car, Even By Repossession
Dayna “Dear Steve, I have an upside down auto loan that I owe about $27,000 on a Mazda car and my monthly payments are $500 per month for 7 years with about 12.45 percentage interest rate. I am unable to refinance my auto loan because my credit is not that good and I owe too [...]