I have just started doing some real estate on the side. I recently got a comission check for about $6000. After paying a few things I know have about $4000. My husband and I would love to buy a house in the next year or so and this would be great to put towards a down payment (a low priced house would be about 400,000).
Should we use this money to save or pay off 2 bills we have a personal loan that has 1100 left on it, we pay 75 a month and the interest rate is 9.9%. We also owe 2200 for our sons cord blood banking. We pay 49 a month and the interest is 11.9%.
We also have my car loan which is about 14000, but I think we will leave that for now.
I was thinking we could take the 49 and 75 that we usually pay in bills every month and save it. I also thought if we pay these things off, it will improve our credit and hopefully get us a better mortgage.
What do you think?
2007-06-30
04:38:09
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5 answers
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asked by
Anonymous