"The Reddit user, originally on a path to financial fitness, now considers selling her home after job loss and accruing a $25K car loan debt."
"Shifting priorities is critical; selling a house might help pay off debt, but the current high mortgage rates could render this option less beneficial."
A Reddit user who previously enjoyed a stable $100K income finds herself in financial difficulty after a job loss, accumulating a $25K car loan in the process. As she contemplates selling her home to become debt-free, high mortgage rates present a complex challenge. Currently receiving a paycheck again, the user must navigate her options carefully to address her debts. While selling her home could theoretically enable her to pay off the loan and move to a more affordable place, the reality of the housing market may complicate her plans, making it difficult to reduce overall expenses.
Read at 24/7 Wall St.
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