I Want to Let the House Go. My Husband Wants to Keep It. What Should We Do? – Amy

“Dear Lewis, We filed chapter 13 and it was confirmed a year ago even though our income wasn’t sufficient. We owe 300,000 on house and received a letter from mortgage company that we defaulted and are behind 6 months. We aren’t behind 6 months. My husband has been working to get it caught up and … Read more

Consumers More Likely to Pay Credit Cards Than Mortgage

From the good folks over at US News & World Report is this interesting article, “Forget the Mortgage, I’m Paying My Credit Card Bill” by Luke Mullins. Amid high unemployment and sliding home prices, a growing number of struggling consumers are doing what was once considered unthinkable: paying their credit card bills instead of their … Read more

Before You Walk Away From Your Mortgage, Read This

Last week I received an email from a desperate couple in Illinois. Here’s the edited version of their note: "My wife and I have been struggling, morally, with what to do. We have two interest-only, adjustable-rate mortgages with two different lenders coming due in May of 2011. I currently can handle paying all my bills–but … Read more

Our Mortgage is in Default But Bank Did Not Foreclose. – Kal

“Dear Steve, Husband laid off for over a year, went into foreclosure, stopped the foreclosure in the 14 day period with the bank attorney. Called to check status and the attorney said the case was closed? Have not heard anything from the bank except they were not going to foreclose. We did have a discharged … Read more