I am trying to get myself aligned to begin (once again) working on modifying my home loan. (I worked on doing this previously, for a year, between 2009-2010 and finally was denied last March 2010.)
To get myself "aligned" .. I think it might take a month or so though. In the mean time .. I have literally been sick about the decisions I have to make in regards to how a loan modification will effect my credit rating (ultimately?)? Also, I need to decide whether or not I should not pay my credit cards (for the first time in my entire life!) So, obviously .. once I do not pay my credit card payments that's quite a big ding right there. I have used my credit cards the past few months to meet my regular obligations (outside of mortgage payment), so that I could pay the mortgage. My husband has not worked (again) for several months and we are in quite the bind right now.
So .. now my credit card payments are really unmanageable.
If I could consolidate my credit cards, I'm guessing I could be better off? I was thinking about calling the three different companies I have cards WITH now and ask if they would consider helping me there? When I log in to my online accounts with those three companies though .. they say I do not have the option of transferring balances.
If I do not pay my three credit cards, I will have about an additional (close to) $510 to work with and that will reflect on my budget analysis that I submit to Chase for a loan mod. That, I guess, would be a good thing, right?
From what I understand (from my boss who recently did this) the credit card company will be wiling to work with me after I allow payments to become delinquent 90 days. Does anyone else, here .. know that to be the case?
I guess what I am posting here is nothing new to all of you. What a terrible predicament to have to be in! Just trying to get myself geared up and know what to expect in regards to all of this.
Does anyone here have any advice, etc .. In regards to all of this?