[Debra M]

...on my record? I am 54 and lost my job 7 mos ago, my partner's company went bankrupt a month later. We have run through most of our savings except for about 50K we have invested in a business that is breaking even right now but not really making any money. I have about 130K in my 401K and my house is about 100K underwater. I have it listed for a short sale but the new houses that are being currently built in my neighborhood are selling first. I have a 7% interest rate. We have moved out of the house and are now living in my friends guest house to save money on cable and utilities, etc. My mortgage is $2100. We are now living off of unemployment and do not have any jobs in the foreseeable future although we are very actively trying to find some.I have about an 800 credit score. This is really bothering me not to pay my mortgage, but I don't know what else to do. Do I risk my retirement years and business to pay this? Rental prices are so low I would lose about $1200 a month.

[kryticalmazz]

what if you used the money in your 401K to pay off your house, then sell it and buy a cheaper house with less square footage, then your bills will be less and you will have equity to put in a high interest account. You could then live off of the unemployment without losing your credit score

[michlele21]

i think you have any enough money pay your mortgage.