We May Well Have The Upper Hand

Folks, with all of the problems going on in the housing market and the credit industry, maybe we've got 'em right where we need 'em. Now's the time to negotiate. I recommend being as tough as they have been. Don't be afraid to remind them that this is alllllllll the free market. If you're paying outrageous interest charges on your credit cards, tell 'em, "Lower the rate, or I'm NOT paying the bill." Got a problem with your mortgage payment? Tell 'em, "I want this adjusted, or I'm NOT paying the mortgage." Let me tell ya, the credit industry is bleeding BILLIONS of dollars. How much more of this they can take, I don't know, but when they have people down, they keep their foot on their throat, and it seems only fair, in a free market, that we do the same in return. Now, if you don't owe much of a mortgage or credit card bill, DON'T take my advice and risk anything, but if you owe a lot, it might well be worthwhile giving your creditors a call. They don't want foreclosures, because they usually can't their money back, especially in the housing situation today. Credit card companies will scream that you'll ruin your credit, but if you're sinking already, it might be worth the risk.

A few days ago, there was a knock at the door. When I opened the door, a guy identified himself as being a representative with my mortgage company. He quickly added, "There's no problem with your mortgage. And I'm not here to change your mortgage terms." I quickly replied, "You can't anyway! It's a legal document." He just looked at me. Then came the crux of the matter. He was here to try to get me to take out the plan that pays off the mortgage if you die. I told him bluntly, I'm not taking out anything, that's they're problem. I'm not interested." I'd say mortgage companies are scared. So scared that they're sending people to knock on doors to try to get them to take coverage that will pay off the mortgage if a death occurs. If you're in a credit pinch, you've got leverage. USE IT!