Loans, Debt & Credit - View Single Post - Going to stop making payments effective 12/1/09

briknope · 10-31-2009, 07:23 PM

absolutely yes, stop paying. Do not drain your savings. Your credit will take a hit big time. Chase will call for sure after a few missed payments. Play dumb and broke. Do not fall for their trial payment programs of any sort. Bank the money and expect foreclosure. If they come up with something then so be it. You can buy another home soon afterwards, in about 2 years at the most for half as much. I wouldn't pay HOA either. That lien or debt will get wiped out in foreclosure. Again, SAVE money...you may need it to get a place to rent OR pay off HOA if acceptable terms are made by Chase.

10-31-2009, 07:23 PM	#2 (permalink)
briknope Senior Member Join Date: Jan 2009 Posts: 221 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Going to stop making payments effective 12/1/09 absolutely yes, stop paying. Do not drain your savings. Your credit will take a hit big time. Chase will call for sure after a few missed payments. Play dumb and broke. Do not fall for their trial payment programs of any sort. Bank the money and expect foreclosure. If they come up with something then so be it. You can buy another home soon afterwards, in about 2 years at the most for half as much. I wouldn't pay HOA either. That lien or debt will get wiped out in foreclosure. Again, SAVE money...you may need it to get a place to rent OR pay off HOA if acceptable terms are made by Chase.