A homeowner plans to sell their house listed at 260-280k to pay off debt, with a 94k mortgage. The move aims for a financial reset when cash runs low, but raises questions about whether it's the right call.
Between 260 and 280 (thousand).
94 (thousand).
March 22, 2024.
I want to sell the house. We are getting it ready to sell right now, and we're going to use the funds to pay off debt. So that's what the hope is.
How much equity is in the house now?
From what my Realtor is telling me, she's going to list it between 260 and 280, and I owe 94 on it.
Obviously not the ideal world situation, but it's also like, when cash is low and, like, it's a way to reset, you know?
Yeah.
Selling the family home isn't a great solution, but it is a solution to be able to add liquidity to the business and sort of get a restart on everything. Because we only have $5,000 in the bank right now, and because of that, that's the only thing we can think about.
