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Is it worse to miss a home payment or 3 credit card payments?

I am about $2k short this month and am wondering what to do. I am current on everything I have, but I have a home payment that is around $2k and 3 credit cards whose payments are about $2k.

Would I be better off paying the home payment later and but keeping the CC's current, or making sure the home payment is on time but missing the three CC's? I am trying to preserve my credit as I anticipate getting everything up to date the following month.

Please note, this is all assuming I do not come up with another way to get the $2k. I know there are tons of ways to get the dough so don't worry about that, I am only concerned with the credit portion.

Thanks.

Update:

Mark J - honestly, did you not even read my entire question? I don't mean to be a jerk, but come on, at least read the questions before you spam us all.

8 Answers

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  • ?
    Lv 7
    1 decade ago
    Favorite Answer

    I agree with everyone else if you have to make that choice pay the house first.

    But have you thought of this, call your mortgage company and see if they will add this months payment onto the end of your loan letting you skip this months payment. I know car lenders do this all the time.

    There may be a small amount of additional interest but this way you would not be late on anything.

    Source(s): Finance Manager for almost 9-years / 2008 edition Consumer Action Handbook.
  • Anonymous
    1 decade ago

    The mortgage should always be your first option. Call the credit card co and ask if they can defer the payments until next month when you get your add'l funding. You may not be aware that every day you do not make the mortgage payment, you are charged add'l interest every day till it's paid. It's per-diem. If you wait until the end of month and it's received the following, they will return the check requesting 2 payments.

    Source(s): Retired bill collector 35 years
  • 1 decade ago

    Pay the house. Recovering from that will be a lot tougher. The credit card companies will accept partial payments to catch up. The mortgage company, Probably not!

  • ?
    Lv 4
    5 years ago

    It probable wasn't a brilliant theory to persist with for som many enjoying cards. Your credit is tormented via what number cases your credit is pulled. So whenever you utilized for a card, your credit became pulled. not good in spite of the undeniable fact that it won't wreck your credit. Having too many enjoying cards w/ a 0 stability is larger than having 3 or 4 with severe balances. while procuring a house or motor vehicle, lenders constantly look at your debt to earnings ratio. in case you have alot of debt with low earnings, you probable won't get approved for extensive purchases. regardless of you do, do not rack up charges that can not be paid in complete on the top of the month. this is a undeniable hearth thank you to wreck your credit! believe me i'm 28 and nevertheless attempting to pay off charges from while i became 18! Having one or 2 enjoying cards carrying low balances (under $200) and no overdue money is extraordinarily good on your credit. It shows you're accountable & using your enjoying cards (which the credit companies pick to ascertain). only don't have greater beneficial than 2 or 3 enjoying cards and attempt to maintain the magnificent balances low. good success in this new area of your existence!

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  • Anonymous
    1 decade ago

    ALWAYS pay your mortgage. Card companies are a little more forgiving. You'll likely need to refinance the mortgage at some point in time so you don't want missed payments there.

    Just make sure you contact your card company for arrangements.

  • 1 decade ago

    Always pay the house first but what would it hurt to call the mortgage company and ask if they would defer one payment. If they charge fees that are more then the fees the credit card company's are going to charge then no. But it cant hurt to ask.

  • 1 decade ago

    Pay the house and let the unsecured credit cards go. Those credit cards won't make a very good roof over your head.

  • Anonymous
    1 decade ago

    put it on the house. maybe ring the CC companies n let them know that you will pay later.

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