Does it make sense to purchase a home to reduce debt? related questions

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Does it make sense to purchase a home to reduce debt?0Gwen2012-09-20 16:32:02
I have bad credit and debt. I'm just getting from payday to payday . Should I use my VA loan eligibility to buy an affordable home and consolidate my debt with a home equity loan ?
Does it EVER make sense to do a Home Equity Loan for CC Debt Consolidation?2denver2012-10-05 14:26:03
Two creditors are telling me it will be the best thing I ever did for myself . I have three bad debts and a FICO of 551 . MedlinePlus MedlinePlus Why am I going to pay three times more in the interest of "making them disappear " and put my house up as collateral .... exchange for an unsecured debt to a secured huge ? Seems obvious .... MedlinePlus MedlinePlus Why do so many people do it ? Am I missing a key benefit ?
Does it make sense to get a private school loan to purchase a brand new or lightly used car?1Debbi2012-09-18 21:16:03
I would like to pay cash for a Chevy Cobalt . It's nothing fancy just a basic model . Im a college student and I have a car . I need transportation for internships . I 'm majoring in accounting. I do not feel it would be a problem to pay the loan . I just need opinions on whether this would be wise .
Does it make sense to take out a student loan to help make larger down payment on a home?0tiantae2012-11-06 00:09:02
My husband and I have a combined income of $ 160,000 a year and are planning to buy a house in the Boston area . Housing is very expensive here , and a two bedroom apartment goes for between $ 400 to 450.000 . We currently have about $ 30,000 to be used for the down payment. My dilemma is that my graduate school is offering me $ 20,000 in student loans over the next year and a half (I'm on a full scholarship ) at the rate of 6.8 % . I do not need them for their expenses , but does it make any sense for them to take to help with the costs of houses ( down payment, closing costs , or even furniture / decor ) . We will not have 20% less , but we are close to not having to pay PMI for long. MedlinePlus MedlinePlus Besides that I have $ 10,000 in student loans ( mostly variable rate , just consolidated at around 2.48% ) , we are completely debt free . We bought the car in cash , and not expect to have to replace in the short term ( a Honda 2005) . Our debt-to- income is very low and our credit is great . I am also eligible for $ 17,500 in loan forgiveness for a few years , as I am a special education teacher urban . It is also important to note that we work very safe and there are no plans to make major changes , such as Special Ed teacher for Boston Public Schools . MedlinePlus MedlinePlus What do you think ? We would like to buy soon , to take advantage of the market and the tax credit .
Does it make sense to take out a student loan to help make larger down payment on a home?0ct2012-11-02 18:06:35
I am a full time teacher ($65,000 yr) and full time graduate student (on a full scholarship). I am looking to buy a house in the Boston area. I am being offered about $15,000 in student loans per year, at the current 6.8% fixed rate. Though I don't need these loans to live on, I'm wondering if I should take them to beef up my down payment (our savings is currently at about $30,000, we're looking at a house in the $450,000 ballpark). I will be combining income with my boyfriend, who makes $90,000 a year. Does it make sense to have more student loan debt but a bigger down payment? Some more details: I currently have about $8,000 in student loan debt from undergrad (variable rate, now about 2.5%, and about $7,500 from grad school last year (6.8%). Also, because I'm an urban special ed teacher I am eligible for $17,500 of my loans to be forgiven after 5 years (I'm in my 1st).
Does it make sense to take out a student loan to help make larger down payment on a home?2madea2012-10-27 08:02:03
My husband and I have a combined income of $ 160,000 a year and are planning to buy a house in the Boston area . Housing is very expensive here , and a two bedroom apartment goes for between $ 400 to 450.000 . We currently have about $ 30,000 to be used for the down payment. My dilemma is that my graduate school is offering me $ 20,000 in student loans over the next year and a half (I'm on a full scholarship ) at the rate of 6.8 % . I do not need them for their expenses , but does it make any sense for them to take to help with the costs of houses ( down payment, closing costs , or even furniture / decor ) . We will not have 20% less , but we are close to not having to pay PMI for long. MedlinePlus MedlinePlus Besides that I have $ 10,000 in student loans ( mostly variable rate , just consolidated at around 2.48% ) , we are completely debt free . We bought the car in cash , and not expect to have to replace in the short term ( a Honda 2005) . Our debt-to- income is very low and our credit is great . I am also eligible for $ 17,500 in loan forgiveness for a few years , as I am a special education teacher urban . It is also important to note that we work very safe and there are no plans to make major changes , such as Special Ed teacher for Boston Public Schools . MedlinePlus MedlinePlus What do you think ? We would like to buy soon , to take advantage of the market and the tax credit .
Does it make sense to take a home equity loan out for $100K or so a year in advance of renovations and invest?1Star Chick 2012-09-09 13:27:03
I'm thinking of putting everything in a couple of investment funds or investment funds perhaps half / half CDs . I'd like to cash in other investments to avoid capital gains in the short term.
Why make it more difficult to purchase a home in an already depressed economy?1mikecardoso1232012-09-22 09:14:03
With respect, you would think that if you really wanted to improve their purchasing practices, should make it a little easier, but instead of its being almost impossible for the average American to buy a house .. We have good people in this country who have made big mistakes in his past, but have since overcome, but they have the almighty "credit score" high enough to qualify for a mortgage ... may be its some kind of program where you look 12 to 24 months of rental history, credit card or loan payment and history in which the income actually see this person he has met and has made a change, why not allow that person to qualify for a loan on the basis of credentials and not just look at your credit score 580 and do not assume that your mortgage payment ... I would think that these people deserve a second chance and it would be beneficial to our economy today ... For my part, I am a homeowner and wish I was a tenant ... I bought a foreclosed home in 2010 for $ 150,000 and I'm paying a monthly fee for a suitable home at that price, but here is my problem ... assessed value of my home is $ 69,000 ... Why do I have to pay $ 1200 monthly payment on a home that cost so little in only one year after ... This is why I and a lot of other people want to walk away ... So I can say that because I refinance my house should be assessed in more than $ 300,000 ... and I'm not looking for cash, just want a lower payment .... there must be a better way to boost this economy instead of helping it feel that you are suffering and doing worse than all of the guidelines necessary to almighty qualify for a loan .... just give the average person an opportunity, perhaps allow the average person to qualify for a loan of $ 80,000 ... Do a test run, then see if this tactic helps this depressed economy ridiculous ... I would love to not owe the bank more than what my house is worth, or perhaps allow me to make a monthly payment on a $ 69,000 house price ... Give it a year if things get worse, I'm walking away like hundreds of others ... you have to work with us, the middle class that increasingly are slowing the poor ....
Something screwy going on! I am going to try and make this make sense, if I can?0clubpenguingangster2012-11-05 06:44:49
My email,one that I don't regualrly use, sent an email to my main email with something that should have been in the documents section of the computer. It also sent it too at least one of the contacts in my address book.(I did not sent this) I also go an email (to this email that I don't regualrly use)from the finance company that we have our car loan with saying that the email that I sent on friday(Ididn't send one) had the wrong address info and work info in it(it did as we have recently moved across the country) but I did not send that email to the loan company neither did anyone in my family. Can anyone tell me what in the world is going on???? Should I be worried? What should I do?
Does this make sense?24ever2012-10-24 13:48:02
A friend and I had this business idea . We have no money to get it going , and in our time , so I doubt exceed 50k in business loans (if that much ) .. I had been reading about the companies and the advantages of incorporation. So , is it possible incorportate our business , selling shares in the company to raise money ? I know this will give shareholders a partial participation , but do not want after the company grows , for someone to try and push me off the board , there is a way to secure a place for good for me and my family , and I it could sell shares at a lower price than everyone else?
Would it make sense for us to have a prenup?7edriona2012-10-01 07:11:03
I brought in an informal discussion , and my girlfriend of nine months was angry and offended . Here is some information about us ... MedlinePlus MedlinePlus I : 24. I work full time as an engineer . Rent an apartment. Salary of $ 60K . Owe $ 60K student loan . MedlinePlus MedlinePlus She : 23 years . A part-time graduate student marketing . Part-time waitress . Hopes of getting a full time job after graduation. Owes very little about student loans . Also rent an apartment MedlinePlus . MedlinePlus I brought a prenuptial agreement because I believe that alimony is completely ridiculous . I am planning a divorce even before getting married ? Of course not ... I see it as car insurance . Am I thinking about crashing my car ? Of course not ... But I'd rather have the insurance to be fucked . MedlinePlus MedlinePlus I'm not in stone in this ... And it's not because I feel like I'm above it or something. I'm just the type of person who likes to keep finances separate . Right now we live together , and both pay half the cost . MedlinePlus MedlinePlus I have not proposed yet or anything ... We've only been together nine months . But we both feel like this relationship will lead to marriage over time. MedlinePlus MedlinePlus Any opinions ?
Does it make sense to refinance my car?2 flowers if Xiangxi -2012-10-10 19:18:01
Well , I think I should do it .. I thought I could get the advice of the group ! MedlinePlus MedlinePlus I bought a new car in June 2008 , I financed for 6 years @ 7 % . Just made the payment 7. Total payment before this payment was: $ 30,486 ( ~ 5.5 years left ) MedlinePlus MedlinePlus I can refinance @ 6 % for 60 . MedlinePlus MedlinePlus It seems that I can save about $ 1,500 over the life of the loan ( and made ​​six months before) if i refinance. MedlinePlus Am I correct in this assumption ? MedlinePlus MedlinePlus Thank you all !

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