I am getting a divorce, and have a settlement coming. Need advice on renting or buying home?
florida-mom asked:
I am divorcing, and have reached a settlement agreement, husband keeps house and buys me out. I will have a set amount to put down on new home in about 60 days, or sooner. I am trying to decide if it is better to buy right away or rent for 6 months. My fica score is not the greatest, mid 600's, so I will pay off all bills to show no debt, raising my score in time. I am basically a first time buyer since last mortgage was only in husbands name. I was thinking maybe of renting, and putting down payment in 6month cd to earn interest. I am just really confused what to do, as I really wasnt expecting the divorce or a settlement. Thanks.
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I am divorcing, and have reached a settlement agreement, husband keeps house and buys me out. I will have a set amount to put down on new home in about 60 days, or sooner. I am trying to decide if it is better to buy right away or rent for 6 months. My fica score is not the greatest, mid 600's, so I will pay off all bills to show no debt, raising my score in time. I am basically a first time buyer since last mortgage was only in husbands name. I was thinking maybe of renting, and putting down payment in 6month cd to earn interest. I am just really confused what to do, as I really wasnt expecting the divorce or a settlement. Thanks.
Chicatalk
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