My payment has gone up on my 2nd mortgage $300 and now the first mortgage w/ GMAC has gone up $610, my credit card debts have also substantially increased making repairs and improvements to the property, when I purchased the property my credit card payments were $0, and now they are $450 a month! My income has not kept pace with the increased payments.
One could say I don’t know how to manage my money, and I’m sure there are plenty of you who will jump on that, but the truth is at least 75% of that credit card debt was used to improve or repair the property, including a $5000 plumbing disaster that occurred earlier this year.
