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What's worse on your credit, defaulting or being perpetually 30+ days late?


cuomor
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In April, I did my taxes and I owed the fed gov. I did not have the cash or credit to pay my mortgage and the government so I chose to pay the government. Now I'm 30+ days behind and I don't have a means to get ahead. I'll always be making payments 30+ days late. So what's worse on my credit, being 30+ days late on every payment indefinately or just defaulting and letting them take the house? :-(

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In April, I did my taxes and I owed the fed gov. I did not have the cash or credit to pay my mortgage and the government so I chose to pay the government. Now I'm 30+ days behind and I don't have a means to get ahead. I'll always be making payments 30+ days late. So what's worse on my credit, being 30+ days late on every payment indefinately or just defaulting and letting them take the house? :-(

Defaulting is worse, you can try adding a little each month to your payments

and try catching up, if its over 60-90 days you may ask that they add to the end of your loan, if you been paying on time they may do this for you 1 time.

, just a note if you have a "ballon" payment at the end, it may be higher, but worry about that later. never get to the 90 day mark if you can help it.

try having a yard sale? that can raise a few bucks,,

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