Capcha.org – Debt-Free Living is Possible

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Capcha.org – Debt-Free Living is Possible

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What to do?

In the last year we have paid off close to 30,000 in debt. YAHOO!! We did this by using Dave Ramsey’s Plan from his book. We have just paid off our last credit card. We have our van (6000.00) and a 1st (115000.00) and 2nd (23000.00) mortgage left. My husband is going to be deployed to Iraq and will be gone a minimum of 4 months. We are considering a couple of options.

One is sale our home (profit about 35000.00-40000.00) and I could move in with my parents while he is gone and save the money that would have been going to our home and utilities. We would also sale my husbands truck and trailer (profit about 6500.00) Plus the money that he would make while he is deployed. We would have close to 60,000.00-70,000.00 saved when he gets home and we could then put that towards another home and not have the hefty second mortgage.

Another option is to stay in this home and sell the truck and trailer and use some of the money he makes while gone to pay off most of the second mortgage and stay here with just the first mortgage left to pay off.

We would need to do some fixing up inside and outside if we stay. We are not in love with the neighborhood or the layout of the house. The big bonus to this house is the 1/3 acre back yard. So we are not sure which route to take. Would love to have input as to what you guys think!!

If you like the house and think fixing it up would help, stay in the house and do the second path.

If you would prefer to sell off everything (house, truck, trailer) and will save the money he makes while deployed, go for it and move in with your parents. You would have to give up living on your own and you will be moving to a different home once he returns.

What does your gut say? I would just put 20% down and put the rest in an index fund.

If you aren’t in love with the house, the layout, it needs work etc….and you aren’t in love with the neighborhood. I’d sell the house. Not so much for the debt, but because life is too short to be in a place as special as your home should be, and you aren’t loving it EVERYDAY. Getting out of a huge mortgage, knowing there is a possibility of finding a place you love, and having such a large down-payment to make a smaller morgage for you are all plus’!!

Staying with your parents, for me, would be a whole ‘nother subject!! LOL LOL However, if you can deal with that, then go for it. Getting out of debt the way you have is such a wonderful relief for anyone. Congratulations!!

Thank you for your advice. That is kind of how we are feeling. My parents have a house that is a great layout, there room is on one side and there are 2 rooms and the bathroom on the other, so we would not be cramped. They have a big home, so I think I could do it temporarily. The weight on our shoulders is getting lighter and lighter as we get out of debt. I love it!!!


September 1, 2016, mortgage payment plan