<prompt> Human: We are not in the US, but our local personal finance sub is very quiet. As per title, we have around 275k equity in our house and 106k debt including 40k student loan, 30k personal loan used for renovations repairs, 20k car loans, 16k credit card debt racked up due to illness and job losses. Weve done major improvements to our home and our area is booming. My husband and I now have solid jobs 80k and 50k per annum and while we are getting everything paid, there is nothing left and some months are very tight. We are only paying minimum amount required on the credit cards and the student loan is never ending!! Borrowed 26k, have paid back 29k and have 40k owing thanks to interestDoes it make sense to sell the house and pay down all debt, freeing up 2200month for savings? After a year, we would have 190,000 saved for deposit to build a new house. We could put that in a term deposit for a year and rent.Or ride it out until the personal loan and car loans come to their natural end in 2 years, then snowball the credit cards? Im leaning towards selling up, clearing the decks and renting for a year, but weve worked damned hard for 14 years of home ownership and feel guilty throwing in the towel. I worry that well sell too soon and our house value will go up even more and well miss out, but realise that the debt we have is smothering and devastating.Tell me Im crazy not to sell?!EDIT thank you all for your ideas and perspectives. We have decided to knuckle down and ride it out for now. Spoke with the bank, they need me to be in my job 6 months before looking at refinancing the mortgage so will revisit that option in the next couple of months. We have already cut back heavily on the outgoings and increased hours at our new jobs. We dont have luxury anything and because of where we live and work having sparse public transport, getting rid of a car is not an option. Thanks again.  <response>: I wouldnt sell, your home is gaining in price. If you sell and take care of your debt, you may be priced out of your neighborhood when youre ready to buy. If you want to sell and buy in a cheaper area that makes more sense. Since you both have jobs now I would buckle down, pay minimums on everything and throw everything possible towards the credit cards. Once that paid off, tackle things by interest rate you now have at least an extra 500month since you paid off the credit cards and thats most likely the student loans or personal loan. 