I have credit card balances that I am trying to pay off and also a first and second mortgage. My business income is taking a dive so I am going to start coming up short. Most standard advice on debt repayment is to pay the highest interest credit card balances first, snowball the payments and move on to the next one on the list, leaving the mortgage to last. I'm concerned that I will get the credit cards paid and lose my house to foreclosure. I would like to hear from anyone who has insight into this situation. Shouldn't I concentrate on my home and paying down the mortgage as much as possible rather than working on the credit cards?
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