Government Debt Consolidation Loans – Update

Ginger asked:


I would like to purchase my first starter home by mid 2008, but my credit is somewhat shaky. I have two credit cards (totalling 700) and one will be paid off by the end of the summer. I have 6 late payments on this card in the past 5 years of its existence, but the most recent was in 2005. The other card is 1.5 years old with perfect payment history. I have 4 collection accounts (2 with cell phone companies from 2003 and 2 for medical bills in 2006). On a good note, I obtained a car and paid the balance (before the end of the loan) of $6,200 in 10 months with never a late payment for 2005. Federal government student loans totalling $5,250 have also been on time for the past 14 months.
With this said, how hard would it be to obtain a mortgage? I’m sure the interest rate would be high, but I am so desperate to buy a house! I have lived in an apartment for 5 years and am tired of “throwing money out of the window.”

government student loans

Bryant asked:


for a single guy (no kids) with a yearly income $120,000 and only debt is student loans $65,000
1. Investing- would it be ok to max invest in a profit sharing retirement plan with a company that matches $3 for your $1? And also invest and max a Roth IRA plan?
2. Student Loans- after consolidation, would $1000/month be a good plan?
3. Buying a House- what price range would be the best for a first-timer with this status and income
4. Buying a Car- I like to drive nice cars and get a new one often at least every 2 years. I already have a car I own, so would leasing be a good choice?
I also have excellent credit score. Have never been late on any payment. The area that I’m moving to upon graduation in May is Florence, SC.
PharmD- Pharmacist

student loan consolidation