Submitted by why-rooftop t3_zzva96 in personalfinance
Hot_Handle t1_j2e9b2q wrote
I would stop making all payments other than the mortgage. Free up cash from the cards to resume mortgage payments. Your cards will eventually have to be paid off or settled but it will buy you some time and keep you in your home. After a few months your creditors would be willing to take a lot less than what you owe to discharge the debt. Your credit would be damaged but it's better than bankruptcy and possibly losing your home.
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