Second mortgage paid off today!
In March of 2008, I took a job several states away and my family and I packed up and moved. We immediately put our house on the market, but it took almost eighteen months for it to sell. I have recounted most of the story here at Gather Little by Little:
Two days ago, I sent a certified check by mail and I have been assured the the debt will be marked “paid in full”. I plan to make certain that the documentation also includes the words “with no recourse” so that the collections company cannot pursue me to collect more of the debt. They offered to settle the debt in exchange for 50% of the balance and I jumped at the opportunity. This situation has certainly hurt our cash-on-hand and emergency fund, but the opportunity to take a several-thousand-dollar leap toward debt freedom is worth it.
I’ll let you know if this thing rears its ugly head again.
Article by Stew
Photo by tony’s pics