I Can't Buy A Home ~ I Have Too Much Debt!

I belong to a moms' group online and I saw a post the other day about the high cost of rent and this one gal was looking to move to a cheaper rental.

Needless to say it was mentioned to her to consider buying a home. Her answer was 'we have too much debt'.

So, how much debt is too much? 

Another, 'needless to say', it's mostly dependent upon how much income you have.

I presume that you realize that, but who knows, maybe not.

Let's say you have 20k in debt, but make 100k a year and are paying your debt as agreed. You may be okay.

On the other hand, a 100k in debt and your income is only 20k, plus you're not making payments as scheduled......that's too much debt.

But, if you're somewhere in the middle, you really should talk to a mortgage lender and ask them to help your formulate a plan to get that debt under control so that...if this is your goal.....you can ultimately buy a home.

Owning a home is a money maker, no doubt about it. Renting is a money maker too, but it's the landlord that makes the money.

Without having an expert guiding you, 

the home ownership goal for your family may truly be just a dream.

Happy to help turn a dream into a reality.

Lauren@KeepYourWitz.com