Debt payoff questions
Hi everyone, I have a question on mortgage approvals and debt payoff. I am currently in a revolving debt of around $50k with credit utilization of around 90%, zero late payments and scores are 750s. I plan to move in a month to a lower cost of living area down south and eventually retire there. I expect around $150k in proceeds and I have a pension. I want to know if we are better off liquidating assets then pay our debts? Proceeds will also be put back into investment so there is time to boost credit scores. by mgreen948 from Hampton, Florida. Jan 24th 2022
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
It might be, but not enough details to accurately tell you which course of action would be best. Reach out and I'll connect you with a Florida licensed Loan Officer.Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300.
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Too many variables to help you figure it out here. I'm a big fan of cash reserves... I lend in MN WI IA SD and ND. Find me at Joemetzler.com - Cambria Mortgage, NMLS 274132
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