We Have No Savings, an Underwater Mortgage, and the Car Just Died

“Dear Steve, I have $11,000 in debt, no emergency fund; home seriously underwater; car died and employer just dropped our healthcare coverage, which looks like it will add another $500 to my monthly expenses. It looks like I need to address 3 of the aforementioned expenses immediately; how will this impact my credit score or … Read more

I’m Underwater With My Mortgage. Household Refuses to Help Me Modify My Loan. What Do I Do? – Robert

“Dear Andy, Underwater Mortgage Household Finance (Beneficial) conventional mortgage taken out four years ago with current balance of $114,000.00 with a value $72,000.00 Household refuse to modify, refinance or reduce interest rate. Current FICO 690 anticipate higher after paying down two credit cards. No late payments, bankruptcy or collection. Interest rate 9.5% has not been … Read more

Walking Away From Your Home Might Be The Best Thing to Do for You

It’s interesting that the banking community doesn’t want consumers to walk away from their homes when the house has lost so much value that the home is now worth less than the mortgage. But this would be the very same banking community that made these unrealistic and dubious loans to begin with during the high … Read more