Comments on: Selling home, making a profit – better to pay off credit card debt or put money into new home?

By: Zachary C

Zachary C — Sun, 25 Jan 2009 07:47:53 +0000

Have you lived in it for at least 2 of the last 5 years? If so, there’s no capital gains tax from the IRS, and the money is yours to spend as you wish.

I’ve bookmarked this site…

Hope that helps.

By: stan c

stan c — Thu, 22 Jan 2009 00:21:11 +0000

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If you still have money after you put down the 20% on your new home, and you’re current on the credit cards, you should wait a couple of months before you decide what to do next. On a new 30 years mortgage, you’ll pay about 70% on the first 15 years. You should also request am amortization that will give you a break down between interest/principle.

By: dangler

dangler — Tue, 20 Jan 2009 02:20:30 +0000

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pay off the credit card debts

By: Swanky

Swanky — Sun, 18 Jan 2009 02:44:22 +0000

Kansieo.com sometimes it's best to pay off your 'bad' debt before moving on to another house. also consider what the debt will look like to a lender when they are considering you for a new house.

By: Robert B

Robert B — Thu, 15 Jan 2009 21:21:29 +0000

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Credit card interest is higher than mortgage interest. you do the math.