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I'm in need of sound advice. I will soon come upon approximately 47K as a result of my wife buying me out of the equity of our house (we have separated and in the process of divorcing). Rents in our area (Washington DC) are extremely high, if not higher than a mortgage payment, so I've thought of using that money to buy another home, albeit much smaller. However, I also have in excess of 25K in credit card debt and I would like to pay this off or at least bring the debt to a more controlable level. My question is: Which should be my priority, the purchase of a home or pay off of the credit cards? I would love to pay off my credit cards altogether, but I may be left with too little to qualify for the purchase of the home. I should mention that I would like to buy close to work to save on commuting expenses (which are very expensive in the area) but prices in that area are a little higher.

Jungletiger
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