I would love to buy a house. I feel like I’m ready for it, but unfortunately I have a lot of debt, especially credit card debt.
I’m wondering if it will make it difficult for me to get a mortgage approval, or if it won’t matter.at #4061
I guess depending on the amount of debt you have, it should be possible for you to get a mortgage and buy a house.
But if you’re already struggling with paying your debt, why would you want to add mortgage payments to the lot? It’s your choice, of course, but if I were you I’d start by getting out of debt before even thinking about looking at houses for sale.at #4084
It depends, if you have debt but you can afford to make your monthly payments, maybe you’ll get approved for a mortgage… But I guess it will be a mortgage with low monthly payments, and that might not be what you want.at #4107
I think it would be best to try to get out of debt first. But you should check out Canadian Mortgage Services, they specialize in helping people with bad credit get approved for the mortgage they need. Maybe they can help you out.at #4109
That’s interesting, thank you. I’ll check out their website.
And ok, I guess getting out of debt first would make sense. I’m working on it, I’m making my payments each month, but it’s not going very fast… not fast enough.
What would you recommend? People have told me that to get out of debt I had to make a monthly budget, and I’ve done that, but it doesn’t change much. It only made me feel more discouraged with my situation, to be honest.
I really don’t think things are bad enough for me to get debt counseling or something like that… So what can I do to get out of debt?at #4111
All I have to say is don’t be afraid of counseling! It’s really not as bad as it sounds, I decided to get debt counseling a few years ago and it really helped me get back on tracks, I learned so many things that I’m sure I could never have learned on my own.at #4113
There are many things you can do to get out of debt… You could make more hours at work, or find a part-time job to earn more money. The goal is to earn more money than you spend, so you might also need to cut your expenses.
You could have a big garage sale, or just try to sell a few things you own but don’t really need anymore, so you can get some extra cash to pay off your debt faster.
Then there are solutions such as debt consolidation and consumer proposal. If things get very very bad, there’s also bankruptcy, but of course you should try other options before you get there.at #4115
I already cut many expenses, but I feel like if I keep cutting more and more my life will become very boring, you know… I want to get out of debt, but I don’t want to feel like I’m just surviving, and not living. If you know what I mean.
I guess I’ll see if I can talk to someone about my options, get some financial counseling. Because I don’t think I can make more hours, or find another job. I’m already working a lot and I feel like that’s enough.
You must be logged in to reply to this topic.