Reader Questions

Should We Sell the House to Pay Off Our Debt? – Mark

wife and i are 55 years old, both work full time, two kids, one in college, one out, both went thru school on PLUS loans, we owe mortgage and home equity loan, plus lots of credit card debt, which may all equal the selling price of our home.

at our ages and situation, would it be best to sell the house, pay off our debt and rent for the rest of our lives. I’m afraid we’ll never get out of debt or own our current home at this rate. PLEASE HELP.

Mark




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Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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