Hi CHOICE’ers 
I’m interested in hearing any stories of mortgage stress - not necessarily end-of-the-world-drowning-in-debt level of stress, but anyone who’s finding it a bit tough at the moment and might be willing to speak publicly about it?
There’s a fair bit of interest from media, Government and policy makers about the factors causing mortgage stress and they want to hear it from people actually experiencing it.
Anyone willing to share their experience?
How tough? it’s somewhat of a package deal - I reckon most people could afford their mortgage if they have no kids, eat cat food, and don’t go out 
- supporting kids, school fees, orthodontics, uni fees, added costs of living in a remote area, etc etc and the deal changes. Then there would be debate from some on what is necessity and what is choice … its rather a mixed bag …
Well, I guess those are examples of the normal types of stories they want to hear! There’s lots of reasons people get stressed over money - especially with a mortgage in the mix.
It’s pretty normal to be stressed by this stuff!
Hi @jonathan
I agree with:
Mortgage stress is probably a result of a cascade of financial problems. When the cost of the essentials rises, it leaves less money for discretionary items, or items which can be let slip. I suspect mortgage payments are seen as down the list of priorities, and the likely option to shortchange to pay for essentials.
With the constant increase in the cost of living; flat or negative wages growth; flat or negative pension growth; Centerlink’s deeming rates being unrealistically high compared to what is available to pensioners; etc., everyone who is on wages or in receipt of a pension and don’t own their own home is undergoing financial stress leading to mortgage stress. I also suspect that many of those in this category, don’t think of themselves as being in ‘mortgage stress’, but rather in a more general ‘financial stress’.
I know I will offend some, but mortgage stress is in most cases in my opinion the result of many people choosing not to live within their means.
Now before I get howls of its now tougher to own a home yada yada… I purchased my first home in 1986 and the interest rates jumped to 17% and average male earnings were less than $30,000pa that is mortgage stress.
The modern consumer society has made it easier for many younger home buyers to put everything on credit, new homes are now made with all landscaping, paths and driveways done, when was the last time you saw someone using old sheets and bedspreads as curtains in their brand new house?
Now its fully curtained and furnished when new and with all the mod cons and all this bling costs money, plus no-one can get around in older cars anymore we must have two new SUV’s in the garage on move in day.
My point is the old axioms such as a ‘penny saved is a penny earned’ are just as true today and when people live within their means they will not likely suffer mortgage stress.
Credit is simply spending tomorrows earnings today, but one day you have to ‘pay the piper’.
I liken modern suburban life to this succinct saying;
It is most people buying things they don’t need, with money they don’t have, all to impress people they don’t like!
Looks across room … today. Owner building, and house not finished due to lack of funds, but perfectly livable if you dont mind lack of paint, some doors, curtains etc.
I consider myself to be suffering a bit from “mortgage stress” along with general financial stress, since my income is less than 1/3 of what it was 6 years ago due to funding ending for previous employment, and being put on a contract and having hours reduced if I wanted to keep current job.
