We have a rental property with a mortgage (the rent makes the mortgage payments on that property) The home we live in also has a mortgage. My husband receives SSD and a small monthly pension. Not much money is left after paying the mortgage loan/taxes and insurance. I have never worked and don't receive any income. We have high cc debt (unsecured) as well as my husbands medical bills before he had med. insurance.
I've been trying to talk him into selling BOTH houses and pay off what is owed on each and use the remaining balance to purchase a cheaper home to make ends meet. We wouldn't have anymore mortgage payments to worry about if we did this. My husband disagrees... he thinks if he sells the houses the credit card companies will step in and take what they were owed and there won't be enough money to purchase another home. Can cc companies do this? Any advice would be appreciated. Thank you.
what is the debt amount