Please help RE: CC Debt Mortgage

A

akstory

Guest
HI

Need some financial advice

We are currently tapped out on our mortgage and home equity loan. We are paying a ridiculous monthly payment (when you look at the interest) Weve had this loan for about 4 yrs. Honestly, most of the home equity loan is from paying off credit cards...

SHould we....

1. Sell our house and start over? We would break even with the sell (hopefully) and start over with a new home with a lower monthly payment

Thanks for your time
 
Well if the debts are making your life terrible, (as a non home owner) I don't see a problem with selling, clearing your debts, and starting over.

I think it's a bad time to sell at the moment though...

Where abouts do you live?
 
You need to post more detailed information about your overall incomings and outgoings including debts for people to comment. There are lots of "dealing with debts" type threads that are worth reading rather than rehashing all of the information yet again. There are also some useful debt management/budgeting resources linked from the key topics thread in this forum.
 
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