I don't know if my income will go back up but as of right now I am not able to make ends meet. Both my credit card and mortgage payments were due on the first, it is almost 30 days after which I will get a ding on my credit report. I am forced to not be able to make one of those two payments for this month. Which should I miss??? My credit card would not only charge a fee but the rate would go from 15.99% to 29% on a 29,000 balance card which I have had for 15 years and never been late on so it is very emotional and I am tempted to go with the credit card payment, however it would of course be awful to get a late on my mortgage too. Please help!
Talk to your card and mortgage lenders and ask them for a solution. Its their duties to help you.
Pay your mortgage. You will need a place to live, credit card bills can be put off a little while.
You can call your credit card company and negotiate the interest rate, or maybe transfer your balance to a credit card with a lower rate.
Good Luck!
Pay the mortgage first
The mortgage is overall more important and you should not be running up bills on the CC that you can't afford to pay with interest after paying your mortgage.
However, you may find it easier to negotiate better payments or a payment gap with your mortgage lender (they are generally loathe to kick their cash-cow customers out of their homes).
CC companies rarely budge on anything and can raise interest horrifically.
Either way, please pay off your CC if possible, don't EVER spend more than you can immediately pay off on your CC (the interest is ugly) and ensure you can make minimum payments for your mortgage at least!
At the end of the day the legally obligatory CC payments (if you are spending money you don't have on credit) may stop you paying your mortgage and lose your house.