Should I sell my home to pay off debt?
It depends. If you have a reasonable debt and you’re bringing in enough money to put in a sizeable repayment, then it might not be worth it. But if your mortgage eats up half or more of your salary and there’s very little left for debt repayment, selling your home is worth considering.
Going back to renting may not be ideal, and most people are conditioned to believe that it is money wasted when you could be owning your home already. But if having a mortgage you can barely afford prevents you from kicking your debt to the curb, you’re losing more money in the long run.
Many people hold on to their homes even if all the cutting back, side jobs, and stress are killing them. Remember that you can always buy another home once your finances are in order, and when the time comes, you’ll be more prepared. Visit TravisBuysHomes.com to speak with a company that pays cash for houses in Charlotte, NC.
