Is your mortgage becoming dangerous?

One of the BIGGEST epidemics that is effecting the United States of America is a condition that has taken our nation by storm, and it's name is foreclosure. Are you afraid that you will catch it? Is your mortgage keeping you awake at night? Over 1 million Americans have already felt the burn of this most unfortunate predicament, but just like many hardships that we face, foreclosure is one that can be prevented. Is your mortgage becoming dangerous?

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Yes, it is getting dangerous and I am getting worried.
No, I'm keeping good with the payments so far.
If my payment goes up again, I'm in trouble.
None of the above (Please leave a comment)

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Sort By: Raves | Date Comments

raves [-] by Roxie posted May 08, 2008 07:28AM GMTMay 08, 2008 07:28:49

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Answered None of the above
My homes are payed off!
raves [-] by mom2hnh~CSI Beaver~GUNNS posted Jan 22, 2008 04:56AM GMTJanuary 22, 2008 04:56:04

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Answered No, I'm keeping good with the payments so far.
But we do need to refinance. I am in the mortgage industry and the best advice I can give is to make your mortgage payment and try to work with your lender to refinance for a fixed rate or a lower payment.
raves [-] by Tell_it_like_it_is posted Dec 28, 2007 09:08PM GMTDecember 28, 2007 21:08:20

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Answered No, I'm keeping good with the payments so far.
Stay away from ARM's (Adjustable rate mortgage), although a 5 year freeze was just passed recently so folks can stabilize but once that time comes, expect the rates to sky rocket.
ARM's are not the only reason for mortgage problems. A home will almost always appreciate in value so taxes on the value of your property go up every couple of years as well as school taxes etc. Insurance rates go up too and all this continues to add up hopefully at a slower rate than your increase in wages. It seems the cost of living increases faster than most peoples salaries which is why it will kick you in the ass slowly but surely if not careful.
raves +1 [-] by Denny posted Dec 28, 2007 07:01PM GMTDecember 28, 2007 19:01:23

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Answered None of the above
What's the big deal? If you got a Fixed loan and intend to keep your house then the fact that the value has gone down is not really all that bad. There is only a finite amount of land. The value of your house WILL go back up. If you refinanced or just bought the house and now can't afford it, except that your credit will be bad for awhile so be it. The people really getting screwed is the big banks and that's wonderful news.
raves [-] by THE TRUTH posted Dec 28, 2007 07:15PM GMTDecember 28, 2007 19:15:41

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The fact that the values have gone down is only the begining. The mortgage companies are now barely lending anymore.
raves [-] by Denny posted Dec 29, 2007 01:15AM GMTDecember 29, 2007 01:15:16

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They are not lending because Prices are too high and there arn't people to buy the Homes. Look at it this way the price is down 6 per cent lower than last October. That means maybe someone will be able to get a house that couldn't afford one. And look this is not a national problem, I don't see how anyone can afford a house in Calyfornia.
raves [-] by jmendez posted Dec 28, 2007 08:16PM GMTDecember 28, 2007 20:16:11

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"The value of your house WILL go back up. "

I pray it does
raves [-] by Denny posted Dec 29, 2007 01:17AM GMTDecember 29, 2007 01:17:39

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I'll make you a promise. It will go back up and it'll go up faster if the Government doesn't get their noses in it. Then again they promised to do something about the profits the gas companys were getting huh?
raves [-] by B4Real2Me posted Dec 28, 2007 04:15PM GMTDecember 28, 2007 16:15:55

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Answered No, I'm keeping good with the payments so far.
No because we bought in a really nice neighborhood and way below what we could afford, so out mortgage is not a problem.
raves [-] by jmendez posted Dec 28, 2007 04:30PM GMTDecember 28, 2007 16:30:44

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I wish a lot of people would be as fortunate as you
raves [-] by B4Real2Me posted Dec 28, 2007 04:35PM GMTDecember 28, 2007 16:35:23

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I was always taught to live within my means, base the mortgage on one salary (my Husband and I are both receiving retirement checks and both have income coming in now and we still base our mortgage on just one salary out of our four) and stay away from anything flexible/adjustable... do fixed rate.
raves [-] by THE TRUTH posted Dec 28, 2007 04:47PM GMTDecember 28, 2007 16:47:53

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I must say good planning.
raves [-] by B4Real2Me posted Dec 28, 2007 04:56PM GMTDecember 28, 2007 16:56:54

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That way you're still able to do stuff like put some money away, invest, go on cruises, donate to worthy causes and everything else you want to.
raves [-] by Smokey posted Dec 28, 2007 05:02PM GMTDecember 28, 2007 17:02:29

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When you pass on you'll be able to leave a WILL. When I die, I'm passing on my BILLS. I'd sure like to see if those pesky creditors will bug me at the pearly gates!
raves [-] by B4Real2Me posted Dec 28, 2007 05:10PM GMTDecember 28, 2007 17:10:27

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It's biblical to leave an inheritance to your children and even to theirs. I don’t want to leave just money, but also land and the business to them as well so that they can continue to make money.
raves [-] by Smokey posted Dec 28, 2007 05:17PM GMTDecember 28, 2007 17:17:24

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I agree with you, but I don't remember in the Bible where it say we have to leave inheritance. There were poor people in the Bible, including Jesus. My grandparents were dirt poor sharechropers.
raves [-] by B4Real2Me posted Dec 28, 2007 05:50PM GMTDecember 28, 2007 17:50:05

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Check out 1 Chronicles 28:8 and again at Ezra 9:12. Now it don't say that if you don't or can't leave an inheritance that you're doomed to hell.
raves [-] by Smokey posted Dec 28, 2007 06:57PM GMTDecember 28, 2007 18:57:55

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Thanks for the scriptures. I think I remember reading those passages. I believe that the Hebrews back then (and even today) believe the same.
raves [-] by B4Real2Me posted Dec 28, 2007 07:15PM GMTDecember 28, 2007 19:15:18

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Well just call me Ester because I think it's a good belief to have too. But for those who can't afford to leave land or money as an inheritance... leaving your child with a faith in God, I think that counts as well.
raves [-] by Smokey posted Dec 28, 2007 09:55PM GMTDecember 28, 2007 21:55:44

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AMEN SISTER! :)
raves +1 [-] by Smokey posted Dec 28, 2007 05:01PM GMTDecember 28, 2007 17:01:14

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Do you have any room in your basement for me, my daughter, and girlfriend?
raves [-] by THE TRUTH posted Dec 28, 2007 05:02PM GMTDecember 28, 2007 17:02:47

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LOL..... Funny!
raves [-] by B4Real2Me posted Dec 28, 2007 05:11PM GMTDecember 28, 2007 17:11:18

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Sorry, no basement... remember I live in the South and very few homes down here have basements.