Should we sell or refinance?

[Guest]

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)

[Author]

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