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This is depressing.
I refinanced recently to a lower mortgage interest rate and so, my loan amount went back up. The credit card debt increased. My home's value has substantially decreased. My traditional and roth IRAs have basically remained the same due to lack of contributions.
The only things that have increased slightly in value have been my 401K retirement plan and the company's pension plan. I currently contribute 8% of my salary to the Pension Plan and 14.7% of salary to the 401K Plan. There is no employer match available for both plans.
I really have to move forward and commit to the 2013 Financial Goals.
You are WAY underwater on your first, but I don't see a second. You could do a Chapter 7 and it is way painless than a chapter 13.
ReplyDeleteKeep me posted!
Thank you, Sixty.
DeleteCurrently, I've decided on holding onto the condo because I'm trying to rent it out and recoup some mortgage payment from that. If that is successful, then I am hoping to avoid Chapter 7. I keep swinging back and forth between BK and Keeping it. Good luck on your journey!
Avoid 7 or 13 for now... are you single or married?
ReplyDeleteHS
Hi HS,
DeleteI am currently single but living together with a partner right now. I'm trying to avoid chapter 7 and 13 for now but I wonder at times if I am in denial about the property picking back up.