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vs3214
Posts: 2
Registered: ‎10-09-2012
Advice in this tough time.
[ Edited ]

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?