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samgirlearth t1_jegks1w wrote

Where did the money go from selling the house? How do you only have $8k equity in current house?


cleaningupmess2023 OP t1_jeglqyn wrote

58K in student loan debt was paid off.

Bought current home at peak of market last Spring.


geoff5093 t1_jegrirc wrote

So you sold your old house to make a few bucks, then bought at the height of the market at a much higher interest rate? Why? And why would you put $58k towards student loans instead of paying off your credit card debt?


XeoSP t1_jegv7nr wrote

May of 2022 would've been a low interest rate

By "height of the market" he means home price


pragmaticpro t1_jeh4f3q wrote

Student loans aren't always a low interest rate debt like most would expect, especially on private student loans. Not sure if it was the 13% rate OP mentions or another.


samgirlearth t1_jegq9ts wrote

If federal loans you could possibly get a refund since payments are still paused, so that you can pay the tax man