Please help - Debt problems

[Anonymous]

I'm at the end of my rope now.  

First mortgage refinanced 2 yrs ago using HARP (I'm way underwater and can't get a regular refi) at 5 1/8%.

Can't refi again HARP only lets you do it once.

2nd mortgage @ 7.1% with Citi - they refuse to deal at all.

WAY underwater on the house.

A personal loan and about 5 credit cards total about $80k.  

No late payments at all, but I've worked VERY hard to keep that up over the last 4-5 years.  I can't hold on any longer.  My instinct is to just stop paying everybody to try to force them to deal.  The mortgage companies won't do anything since I'm not late yet.   I'd like to minimize damage to my credit if possible.  

An 80k zero-interest loan would save me.  That's not going to happen, but what can I do to minimize the trashing of my credit best I can.

[sarkell]

I'd call cc companies see what they can do. Pay minimum and most you can on the smallest one. See if you can skip a mortgage payment or two and pay down cc debt and add it to the end.

[boomhower]

What is your income and mortage amount?

[ceemee2203]

Contact ccc's and see if you can get a payment plan with lower interest rate and smaller payment.

[Kozmo]

No offense to anyone else here but the CC companies don't just lower rates and payments for the hell of it. Especially if the OP is current.

They do have hardship programs but they aren't easy to come by.

Your best bet is to call a non profit credit counseling company. Check out the nfcc website for one.

Debt management programs are designed for this situation. What they will do is see If the creditors will lower rates and payments if you pay though a non profit credit counseling company.

No creditor will Lower your rate and payment enough to make a sizeable difference in your budget.

Good luck