More details to this question:
Our credit is bad 520 score due to loss of income. Decline in available work hours. We are 2 months behind with house payments. We owe $349,000 on our mortgage. Homes equivalent to ours are going for $300,000. Should we save money and save for a down payment on a home a pay off $10,000 in debt?
1 ANSWER
If you want to buy a home you will need to short sell the one you got. On the other hand your credit score is too low to obtain a loan for a new house. Additionally if you cannot afford this home, how can you afford a new home?
Answered on Feb 28th, 2014 at 7:48 PM