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Would you have done this?

December 23rd, 2011 at 12:10 pm

In a casual conversation, a relative and I were talking about mortgages. She mentioned that she paid her mortgage payment yesterda (payment was due December 1st). She casually mentioned that she could not pay on time because she needed the money to go Christmas shopping. I know that gift giving is very nice, but people have to be honest with their family members and make it clear that there is just no money for gifts this year. I can see her buying gifts for her children, but extravagant gift giving to relatives is wrong given the financial situation of this family. Would you have done the same if you were in the same situation? Christmas has lost its meaning in my opinion.

11 Responses to “Would you have done this?”

  1. EarlyRetirementJoy Says:

    No. Absolutely not. I would not have been able to enjoy Christmas because of the knot in my stomach.

    Regardless of whether you feel for her situation or not, the damage this action did to her credit score will cost her potentially hundreds, if not thousands, over the next seven years. If she lives in one of the 48 states that use credit scoring for auto and home insurance, she will see the painful and expensive results of a lowered credit score on her next insurance renewal, and each renewal after that until her score improves. A lowered credit score also impacts new hire employment and apartment rental acceptability as well.

  2. creditcardfree Says:

    No way would I ever be that late on my mortgage to afford gifts. Food maybe, but not gifts. Christmas comes around the same time every year, and those of us here know you can get good bargains and potentially free things if you look all year long!

  3. Petunia Says:

    Uh. . . no. I would not have done what your relative did. Probably the same response you'll get from almost everyone here!

  4. monkeymama Says:

    Um, no!

    If I Was having trouble paying my mortgage, I would be cutting expenses AND looking for more income. & when Christmas rolled around, I would find ways to spend as little money as possible. $0, if that's what I had to do to pay the mortgage on time.

    Anyway, I do routinely pay my mortgage during the grace period (pretty much just to make life easier - not because I don't have the money - I had motivation to pay the mortgage 2 weeks early, this month, and so did so), BUT, I couldn't help but notice in this example since the mortgage is well beyond any grace period, that your relative was likely charged a late fee and will take a hit to her credit report. Both consequences would not be worth buying "stuff," to me.

  5. monkeymama Says:

    "the damage this action did to her credit score will cost her potentially hundreds, if not thousands, over the next seven years."

    ding ding ding. I think that is a good reason why I would do anything possible to avoid that type situation.

    But I also find it very disturbing from a "Christmas has lost its meaning" standpoint. I am not even a Christian, but we certainly don't celebrate Christmas just because of the STUFF. Wink

  6. ccraw Says:

    No I wouldn't but this happens every day with some folks...they buy themselves and their kids things that are wants and not needs and participate in activities that they cannot afford and do not know how they will pay their mortgage or utilities. Some even have to borrow from others when (imho) they should be paring the budget down to bare bones and teaching their children that one cannot always have and do everything they desire right away. I know so many people and kids that serious think they are entitled to anything and everything they want no matter the cost.

  7. ME2 Says:

    No I would never have done that. However, there will be no ding on the credit report. @@
    She would have had to have been more than 30 days late. @@ Worst case scenario is that she paid a late fee.

  8. PNW Mom Says:

    No....I wouldn't either...unfortunatey, that seems to be the mentality of many people, Christmas just wouldn't be Christmas without tons of stuff! If they are having a hard time paying the mortgage, they obviously have some serious issues.

  9. LuckyRobin Says:

    I don't understand why she didn't just pay the mortgage on time. If she knew she would have the money to pay the mortgage late on the 22nd, why didn't she just pay the mortgage on time and use what she paid on the 22nd to buy Christmas presents, instead of buying presents early? Unless...she paid more for presents than for her mortgage. Which...yikes.

  10. NJDebbie Says:

    LuckyRobin, she paid more for present than her mortgage. Frown

  11. -Jerry- Says:

    It happens ALL the time, but I certainly would not do it myself. I remember my brother complaining when I was a kid that our parents did not go into huge debt for Christmas (like his girlfriend's family), and then work all year to pay it off, only to lead into it again the following December. I thought they were irresponsible and rather stupid (still do, at least in that regard... he married her). I would rather have some insurance that my finances were in order, and even would celebrate late rather than screw up my mortgage and credit score. It's all about priorities, I guess, and lots of people's are completely jacked up.

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