So here%26#039;s the deal: My mortgage interest rate is about to reset and I won%26#039;t be able to afford the new payment. Right now my credit score is perfect and I have never missed a payment. Since I can%26#039;t pay my new mortgage payment and my credit score will be destroyed from that, should I go ahead and use all my lines of credit and credit cards and keep the $150K in cash from them for retirement since I will have nothing else to lose by being in debt?
If my mortgage rate is about to reset and I can%26#039;t make payments should I also take money from all credit cards
Being that interest rates are at a 6 year low (30 year mortgage about 5.8%) and you have perfect credit, simply refinance at a lower permanent rate.
No comments:
Post a Comment