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Hello Scott, I have 48k in unsecured debt and cannot continue to keep up with the payments. My spouse is a real estate agent and has not closed a deal in 6 months. We had planned on making a move in 2 years. Is is possible to use a debt negotiator and payoff what is settled in 6 months (if i can afford it)? Will any mortgage lender lend us money to purchase a home within 18 to 24 months once we have completed a program? Thanks! Ken

Hello, this question is really more of a mortgage question and the answer depends on many variables such as:

1. Paying off a debt settlement in 6 months would mean you’d have to have a lot of money saved up quickly. If you are able to do that then one has to ask, do you need settlement at all?
2. If you do a settlement your credit score will be damaged so it really depends on how long it will take you to rebuild your credit for you to be able to get a home loan with reasonable terms.
3. It also depends on how your credit is now, prior to the settlement

Depending on your income, you may need to readjust your timeline for the new home and focus now on paying off your unsecured debt. If you are able to do so without a debt settlement process, that would be a better scenario for you in terms of your ability to buy a home in 2 years.