Should I pay my rent or mortgage? Please read the explanation...?

[blaeey]

I live in Dallas, TX and I am paying rent in the amount of $514.00 per month on an efficiency apartment. Yet I also have a mortgage for $496.00 per month on my home out of state. Well, for various reason (it's complicated) I will have to decide which one to pay "on time". Because this is Texas the law allows the apartment complex to charge up to $200 to $500 on late fees starting at $75.00 after the first day and $10.00 each additional day.

But a late mortgage would only cost me $30.00 plus a late on my credit report.

I have paid my mortgage on time for a year but I am getting ready to file bankruptcy so my credit (already ruined) will be ruined for an additional 7 years so I am thinking its best to pay the mortgage late as I will have the money next month.

Please advise on what I should do. Your assistance is greatly appreciated.

[tahmelapachme33]

Why is the other house empty? That should be rented out if you are in TX. Ahwell, pay late on the mortgage if you think late is all it's gonna be. If it's gonna look like a default then default on the rent, when you go bankrupt they won't be able to get the money from you anyway

[reid]

If you plan to keep the house in the bankruptcy, pay the mortgage. If not, pay the rent. Or get a pay day loan at one of those cash checking places and pay both.

[denys]

Well, you already have the banks money. You are asking if you should steal the landlords money too.

You shouldn't. Times are really tight, they may not be able to weather the theft.

[darce]

Call your mortgage company, if you can give them a date in which you will pay you can get a once a year shoulder to cry on. they will listen.