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Lending 1st Mortgage
What is the best way to get rid of debt equivalent to 1-year salary?
Important detail is that I do not own a home, property, etc. This is Credit debt with maxed interest What I do not understand is because of my annual income, if a bank, etc., loaned me money for a good rate to buy a home, pay I would be enough to cover the mortgage, etc., if I were lent enough to use a portion of the consolidation of Credit:. Example-no my figures $ 50.000 debt $ 200.000 Mortgage Purchase homes that are $ 150,000 and pay debts with remainding $ 50.000 due to significantly lower mortgage rate and the high interest cards are consolidated payment, etc. is not a problem that can be demonstrated with paystubs but is not evident when you look at credit rating since it is very bad because of the maxed cards etc. I am unaware about how Mortgages work, for some reason you can not get a mortgage as high as possible, but use some funds for other things? Banks will be open for this event? Thanks
the best way to get rid of debt is the same no matter how much you owe or what your income is. 1. Get on a WRITTEN budget and spending less than you earn. 2. Set aside about $ 1000 for emergencies. You do not want to borrow, while trying to pay off debt. 3. Pay minimum on each debt, but first Pay everything you can on this debt. 4. When you pay off a debt, add that payment to the next debt. another job will accelerate process.