Is it ever a good idea to sell your home and buy a smaller, less expensive one in order to get out of debt more quickly?
It’s a good idea in some situations. If you don’t really like the house, or maybe you were thinking about selling it anyway, then I’d say go for it. It would also be a smart move if you simply have too much house and the payments are eating you alive.
I usually recommend that your monthly mortgage payment or rent be no more than 25 percent of your take-home...