Hi,
I was a victim of this housing crisis. I own 2 house before, was able to short sale 1 and now stuck in foreclosure of my owner occupied. Refied loans of $640k(1st) and $120k(heloc). Purchase price of $700k in CA. Now, due to paycuts/ housing issues, I was force to borrow from Peter and Pay Paul and have been using credit cards to make ends meet for almost 2 yrs now.
My monthly minimum payments on 5 credit cards is almost $1k. Car pay of $800/mth. Do you think it still makes sense to keep paying credit cards since 4 of them are closed and interest is as high as 16%? Note that my fico is shot due to pre-foreclosure. My spouse if not part of my house loans but is part of 3 of my credit cards(total min is $600). What are the advantages of having my spouse retained good credit?
