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




This reader question was submitted for site members to answer.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question. Post your response in the comments section below.

If you have a credit or debt question you’d like to ask just use the online form.


READ  I Was in the Military, Got Out, and Ran Up Debt. - Carolyn



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.

Share a Comment / Leave a Reply

Scroll to Top
%d bloggers like this: