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Americans are drowning in debt.
Your mortgage payment should be no more than 25% of your monthly take-home pay, per Ramsey Solutions.
If half of your income gets swallowed up by your mortgage every month, its a no-brainer.
Cutting your housing budget down to size is the only way youll ever make progress.
In this circumstance, Ramsey suggests renting temporarily until youre back on track financially.
Youre Moving
The second scenario to consider selling your home is if you want to move.
But if you already planned on selling, there are three things to determine beforehand.
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