OK. We are going to have to let the house go into forclosure. What do you think would be better, to save the money we would have spent on the mortgage so as to have a little bit of cash, or to try to pay down all of the credit cards, bills, etc. We would like to damage the credit as little as possible, but my husbands, job has cut way down on hours and we just can't continue the payments.
No we are not behind yet, but I don't see how we can continue to pay it and still feed our children.
I feel for your situation and the many others who are facing it today.
I do not personally know what lenders are doing to help, but I do know that some are helping those who contact them.
The government supposedly(I say this, b/c I haven't followed it closely, just headlines and here and there) pumped some money into FHA for people to refinance at lower payments to help them avoid foreclosures. I am not sure what other things the government is doing.