Should we sell or refinance?

Budget101 Discussion List Archives Budget101 Discussion List Should we sell or refinance?

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      I don’t know if this is the place to do this, but mods will delete if

      it isn’t. We have about 30% equity in our house. It’s a little more

      house than we need, although it is nice and in a nice area. We also

      have $30K in consumer debt, outside the remainder of our mortgage. We

      live on one income ($45K). We could move to a less expensive house in

      the area and pay off the debt, or refinance and ride this horrible

      house market out until it improves, not being able to save anything

      and still have debt. The irony is that we have excellent credit and

      fico score. It’s almost as if being in debt helps this? I guess if

      you always pay your bills, it’s all good…at least that’s what my DH

      says.

      Anyways, I realize this is just an opinion, not expert advice, but

      what would you all do?

      thanks!

      jill (newbie)

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Budget101 Discussion List Archives Budget101 Discussion List Should we sell or refinance?