Too much creditcard balance,Need advice
Car loan: I pay $188 bi weekely for my 2015 honda ( i bought it dec.2014)
Too much credit card balance because our expenses more than our income.
My anual income $30,000 and spouse anual income $29,000
My relative send me money from overseas every month about $100
Me and spouse make like minimum wage from work.
we have 3 kids.( 1 kid born with autism,i take care of him when i'm home, thats why i didn't do 2nd work)
Our detached house value about $800,000
Our mortgage balance now $371,000
Our mortgage renewal date nov.2017
we are sinking in debt now.
My spouse complain me about bought too much junk .Too many desktop, too many laptops, too many electronics ....
I will sell my items on kijiii
So far, i didn't miss any payment.
I just keep paying minimum payment all credit cards. I didn't miss any mortgage payment.
I did transunion credit score check today, My credit score 598 , my spouse credit score 577
I already talked to a bank, they say , our income low, they can't combine credit cards balance to mortgage.But they will consider give loan with one payment and cancell all credit card. Bank say, minimum credit score 650 and higher income need to combine to mortgage.
My bank mortgage renewal date is Nov. 2017
I hope, Bank renew my mortgage.
My question :
Can i get a weekend job and extra afternoon job and keep pay the credit card balance slowly?
sell the house and buy a condo?
Can i refinance (consolidate) my mortgage and credit card balance with high interest rate with mortgage broker (B lender) ? ( i guess bank won't help us because low income, low credit score).
(Note: We bought this house year 2001 , For $247,000 . We got mortgage from td bank and my down payment $80,000.
Then, after few years we had credit card balance problem , then we switched (refinance) mortgage with rbc $280,000
Then after few years , credit card balance problem again, refinance mortgage with rbc $400,00 (now balance 371,00)
Now, we have credit card balance problem again, Now house value about 800.00)