Should I Refinance Or Sell My House?

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[David-woun]

Why would she call and ask for advice but is unwilling to tell his medical condition? I get the privacy component but don’t people typically change where they’re calling from to protect privacy?

[maxlaguna]

See if you can rent the basement/garage for at least a couple of years and lower payments. Make sacrifices. Avoid selling unless there's no alternative.

[KA-ubrc]

In My Country in the Caribbean, Trinidad and Tobago we typically do not take put loans for education. We will rather work part time jobs and do our education so our jobs will pay the education cash instead of giving money to banks. Also self employment is the way to go these days...

[kellyinfanger]

Does the advice change if the house payment is much cheaper than any reasonable rent payment would be?

[desertguy]

Sell everything you own, than you will be debt free living in your car. Broke Doctor but debt free is DR perfect world.

[theforeignerinamerica]

Dave will always tell you to sell to eliminate debt. But you need to consider where you will live next and if there is another option before. Appreciation will make you want to hold on to assets the longest.

[plantsthewin]

These chiropractors are getting RIPPED OFF! Crazy debt for no income.

[billvigus]

Caller: what can I do to build my wealth faster?
Dave: sell your car, wife, and kids, then eat nothing but rice and beans
Caller: actually I'm allergic to rice and beans
Dave: 😱😱😱

[symlexbrn]

Sell the house, without debt you will recover fast stress free, the debt is the problem

[queen.kristal]

Well you can sell but you may not be able to buy another house in a couple years because prices keep going up and put you back into a 30 year again.I will just budget and pay more towards my debt until it’s done.I do not agree with selling your house to get rid of loans so quickly.

[AtotheZ]

I think out of all the personalities Ken is my favorite. He seems to give the best advice and listens.

[vanessaellis]

You have 67k in SAVINGS Put that on the Student Loan and SELL EVERYTHING NOT NAILED DONE.

[zacknelson]

I would refinance lower rates, more money saved up over the years, also renting is the worst if ypu can afford a house payment then get a house cause when you rent, your paying someone's mortgage when you can pay your own and have equity

[justinshearer]

I bought a house for 200 K5 years ago house payments around 1200 a month but now the apartments in my area is 1500 for a one bedroom so it would cost me more to rent a one bedroom apartment then a three-bedroom house

[jbeav]

Sell the house. I live where they graduate chiropractors. There are Chiropractors everywhere.

[Anglophile]

Sell the house or move somewhere less expensive

[karimbennett]

SELL! And enjoy your financial freedom as a happy renter for the time being. “Eff” the house. Your financial freedom and peace of mind is more important. I’m a homeowner now, but those years I spent as a renter gave me some of the most restful sleep of my life.

[DemetriPanici]

Always good to see Dave’s responses in circumstances like this!

[whatthewhat]

If you can find a cheap apt: sell now, pay off debt, save for another down payment. If the medical problem ends up costing $$$, use it for that instead.

If apt. rents are through the roof: refinance, and get a better job. Your problem in this option is your 20-30k income. Not enough to pay a mortgage, 137k of loans, and the possibility of high medical bills.

[VS-fopy]

Hmmm wonder if the husband will be on board to sell the house. Probably not.