Advice in this tough time.[ Edited ]
10-09-2012 06:50 PM - edited 10-09-2012 07:04 PM
Here is my situation.
Currently in some tough times after being laid off my second JOB about 6 months ago after surgery. We tried to delay some payments, but right now I'm just stuck with one JOB and it's not enough. My hurband is also strugling to find a job due to his condition.
I had a repossesion of my car last 2 months ago.
Our house is paid off, but had to take out a property tax loan about 6 years ago. I defaulted on that loan, and right now they are saying I owe 25K. They are threatning to forclose in the next month....
I honestly don't what my options are right now. My equifax fico is 579.
I have the repo on my account, a collectinos of $98 from SWB and a perfect history on a secured CAP ONE card and perfect history on a second CAP ONE card with a CL of $750
And a newly opened credit builder loan for $300 at from a local credit union.
The only option right now I believe I have is trying to get a Home Equity loan, becuase our house is valued at around 220K. But I don't know if I would be approved or not.
What would you suggest in this situation?