Jeff, a couple things will make this answer different. 1) when you say really bad, what do you mean? Have you missed mortgage payments or are you credit scores low?

The other things you need to figure out is if you have enough income to carry both the current mortgage debt and the new house debt.

If you would like to know how these are calculated please let me know. i would be glad to help.


Andrew Kashella
AKashella@TLTLoans.com
727-564-3826

If you OWN your house outright sell it. Then take that $$$ amount and move. If you do not "own" it yet you will have to live with the reality that bad credit brings.

You might be better off looking at a 5 year plan. Talk to a non-profit credit counseling agency. Pay off all your credit cards. Highest interest first. Save any extra money you can each month. Live like you have $25 a month to waste. No eating out, no prepared foods, no even slightly expensive food, no cable tv, no expensive shoes. Shop at goodwill and save cash. No new cars, buy older ones in good repair and keep fixing them up. In time your fico score will improve. You will have saved more money instead of owing so much.

When you have improved your fico score and have a decent amount saved you can look at moving. But remember, just moving you and your stuff could cost you thousands of $$$ so you have to add that in the cost.

Reconsider moving to Florida.

If you need to move to Florida, and your home is worth more than the amount you owe, consider selling, moving to Florida, and renting.

If your home is worth less than the amount you owe, don't sell and don't move.

And in any case, work on rebuilding your credit.