04 Aug My mortgage payments are killing me. Can’t save any money. What are my options?
Ive been a homeowner since October of 18. I bought my house and put 12k down. I had a really good job and was doing well. My credit wasn't the greatest, I got a mortgage with a rate of 4.75 and turned out my payments would be 2400 at the time. I didn't really sweat this because I didn't understand what 2400 a month actually was.
Long story short, I had to move on from that job and get a lower paying one. Currently these payments are killing me. I can make the payments, but I just have such a hard time saving any money. If I'm lucky I put away 3-400 dollars every month.
My current credit score is about 670, I tried to refinance but the rates I'm getting offered are 4.35 and would only bring my payment down 300 bucks a month.
What are my options here? Should I tough it out?