samgirlearth t1_jegks1w wrote on March 31, 2023 at 9:25 PM

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

cleaningupmess2023 OP t1_jeglqyn wrote on March 31, 2023 at 9:32 PM

58K in student loan debt was paid off.

Bought current home at peak of market last Spring.

geoff5093 t1_jegrirc wrote on March 31, 2023 at 10:13 PM

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 on March 31, 2023 at 10:40 PM

May of 2022 would've been a low interest rate

By "height of the market" he means home price

pragmaticpro t1_jeh4f3q wrote on March 31, 2023 at 11:50 PM

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 on March 31, 2023 at 10:04 PM

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