we were Denied....again

[Nicole Wood]

well.... we just got denied for another loan...DTI ratio too high for me and my hubby. I'm starting to get discouraged. I wish I would have found this site years ago or read rich dad poor dad. Too many credit cards...in too deep and trying to get out but stuck in the "rat race". Still not giving up but hoping I catch a break soon. We found a great deal and now have no way to finance it.

[Diane G.]

@ Nicole frawley

Anyone buried in debt is because he spends too much relative to his income...

For now, you should completely forget about investing, and work on your debt issue first ...

Start with your income, carve out what you have to pay for debt, then carve out what you want to save.... Then create a budget based on what is left.....every time you are about to spend money, pull up that budget and see if you still have room there.... if not, don't spend.....

That is a lifelong skill everyone needs....

If you can do this for 3 years, I guarantee you will be able to afford RE again