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Re: Service Process for arbitration; paying down mortgage


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Posted by mk_378 (128.173.38.18) on June 23, 2004 at 13:54:51:

In Reply to: Service Process for arbitration; paying down mortgage posted by MDD on June 23, 2004 at 12:16:47:

If the state where you live now doesn't have a total homestead exemption, paying down the mortgage is a bad idea. It will increase the equity in your home, which may give a judgement holder the right to seize it where they wouldn't have been able to before.

You really should consult a lawyer. The other creditors also still have a few years to decide to sue you, and after they see that Discover was successful, they might. Filing BK now may be the best choice. Most people who do file BK regret not doing it sooner.




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