- July 31, 2008 at 5:54 pm #261046
Hello, i am new to the group but would like to offer my advice as a
mortgage professional. I looked at credit reports all day long and
when we were thinking of giving a home to a potential homeowner do
you think we looked at how well they paid there best buy card, all we
cared about when deciding what rate to give was the mortgage payment
history and yes there are people that thought paying best buy or
ashley stewart was more important than there house. See paying your
house is more important that any unsecured credit card. If you
continue to pay your house you will build equity and if you needed
money for some unforeseen reason you can get it out of your house.
Unlike credit cards if you are near the top of the line of credit and
ask for more they will say no. Please if the choice is between the
house and the credit cards pick the house everyday, it will help you
in more ways then you can imagine. I guess if the house payment is
$1000 and you not paying it means you save that to pay the cards that
is a option, but if your cards are lets just say $500 and you stop
paying them and that $500 you can put in savings. Where as the $1000
was going to just pay more bills. I know how you feel but your house
is worth so much more than a credit card, and if you are afraid you
will never get one again, you will even if it is a secured with your
own money eventually it will become insecured. just my opinion.
Take care, Toni
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