Collectors Called Constantly Scared of Foreclosure, What Can I Do? – Roy

“Dear Steve, I have recently taken over management of finances and bill paying from my wife. I always knew we had some lingering credit card debt that had been following us since college, but I had no idea what the real situation was. At this point we are $51,000 in credit card debt. We have … Read more

I Have Had Two Homes Foreclosed On Me. Will I Be Sued? – Ana

“Dear Steve, Had my 2 homes foreclosed. One was already foreclosed and the second will be finalized on March 26th. I have equity line of credit loan’s and cosidering filing for bankcruptcy because I’ve heard that the bank’s will probably sue me for the amount’s owed on these loans. Help!!! Ana” Dear Ana, The banks … Read more

I Used an IPO to Pay Off My Mortgage. Now I’m $450K in Debt. – Lynn

“Dear Steve, 6 years ago, with money from a high tech IPO, I paid off my house. Shortly thereafter, my husband and I started a business (with a HELOC). 4 years into the business, we had accumulated a $390K balance (maxed out) on our HELOC since the business was not profitable and neither one of … Read more

Can I Call Citi to See if They WIll Let Me Settle My Debt For Less? – Joe

“Dear Steve, I have apx 22K in credit card debt from medical bills one year we didn’t have medical coverage. I have steady income now and can access apx 15K in a HELOC. I have apx 22K in credit card debt and am current, can I get them to settle? We are current and have … Read more

Should I Payoff My Credit Cards With a HELOC or a 401(k) Loan? – David

“Dear Steve, I have 2 high interest credit cards I want to eliminate quickly.I am considering obtaining a HELOC at 4.25% vs borrowing from one of my 401-k and repaying it at 6.25%. Do you have advice on which should be the preferred solution or do you have a better idea? David” Dear David, Leave … Read more

I Have a HELOC Loan Against My Brothers House. I Can’t Make Payments. – Junior

“Hi Steve, Last year I started the process to buy a house with my domestic partner but 4 days before the closing in nov. 2008 I lost my second job since then I been trying to find a second job (part-time/full time) without look, since then I have add about $20,000 in debt. but I … Read more

I Am Currently 4 Months Behind on My Mortgage and HELOC. What Do You Suggest? – Debbie

“Dear Steve, I am currently 4 months behind on my mortgage and my heloc. I have worked out a modification with my primary lender that I can live with, and I continue to work out a settlement offer with my heloc throuogh chase bank. what would happen if I just paid my first mortgage ? … Read more