Should I sell my home to pay off debt?
Date: Sat, 09/05/2009 - 18:20
Have you considered the options of debt consolidation and debt s
Have you considered the options of debt consolidation and debt settlement?
There are companies which can help you in negotiating settlement. I think you can opt for such services.
No, don't sell your home to pay your debt. Credit cards are unse
No, don't sell your home to pay your debt. Credit cards are unsecured. Don't give up a Real Estate asset just to pay an usecured creditor. I recomment looking into the Dave Ramsey Total Money makeover. He goes into detail about why not to do this.
Now, if you cannot afford the home, or want to downsize, then that is a different story.
as the person above mentioned, if you want to downgrade the home
as the person above mentioned, if you want to downgrade the home or get a payment that is easier to pay - this might be a good option. If you are just looking for an opportunity to pay off your debt, then do not do this. With this economy, the value of your house is probably at an all time low, wait out a 5 years and your house will realistically be worth much more!
i would not sell your home to pay debt. frankly if its cc debt
i would not sell your home to pay debt. frankly if its cc debt is unsecured and the worst case scenerio they take you to court. the way the housing market is today your house is gonna sit and if you do get lucky and it sells it will not sell for what it is truely worth.
Im going through a loan process right now and it has taken 5 months and its still not closed yet and this is the normal to banks right now. my niebors just bought the house next door and it was 8 months to the point were the orgional home owner was harrassing them. it stinks to get a loan right now let alone have to wait that long for your money.
check into other options expecially if they are all cc debts. they are unsecured.
