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Reply to "House buying conondrum"
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[quote=Anonymous]I agree with the rest. Your finances are stretched pretty tight right now. In the next few years you should try to: 1) Pay off the car loan completely 2) Pay down as much law school debt as you can 3) Hopefully your salary will increase. From the bank's perspective they are looking at your debt as: law school loan + car loan + credit card debt + potential new mortgage debt + property taxes + home owners insurance. They then compare this to your income. Even if you pay off your CCs each month, that will still show up as debt when they check your credit. You could consider writing checks, or using a debit card only for the few months before you re-apply for a loan in the future.[/quote]
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