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Posted by Angel on January 03, 2007 at 12:26:23:
In Reply to: Re: Facing Foreclosure in Sacramento, CA posted by gary on January 02, 2007 at 21:58:14:
Hi...originally, when we bought the house, the payment was about $1800/month and we thought we could handle that. Then, credit card payments started weighing us down. At that point, we probably would have done better to seek a credit counseling agency to help us pay those (reduce interest..make one payment)..but we decided to re-fi our 1st and 2nd into just one, pay the pre-payment penalty (at the time) and get the cash out to pay off all of our cards. Our thinking was that the money we would be paying extra on the mortgage was just about the same as all of the credit card payments. Well...life happens (we have a baby) and we need this or that and it's been difficult for us to make that payment each month. Since October, we've advanced off credit cards to stay on time, but decided that we should just throw in the towel and take it as a learning lesson. I called the bank in October when we started having trouble...but they wouldn't talk to me until I was actually in default. So, now we are (as of January 16th) so we're waiting to see what happens I guess......
Thanks for all your thoughts!
Angel :)
