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Posted in Mortgage
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DaisyzAngelz

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Buy house or pay off credit cards?
Should I buy a house or pay off credit cards (about $20k) with settlement money (unknown amount plus monthly payments)? (Also I have student loans, but those can be put on payment plan) According to this site I have 769 credit score; Credit Card Utilization 42%;

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Pay off credit cards and student loans.

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You don't know exactly how much the total settlement will be, right?  But you DO know the outstanding debts you have.  Pay off those credit cards totally and keep utilization between 10 and 20%.  Student loans have to be paid in a timely fashioin and will not go away in your llifetime, so work to get them paid off ASAP.  THEN, you can consider buying a house at a later date and can save some money for a down payment on it.

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