Total credit card debt in the US is at $1.18 trillion, with 4.3% in delinquency. Gavin, a 40-year-old, has a $400,000 vacation home with a $120,000 mortgage at 10.5%. He’s considering selling to pay off $50,000 in credit card debt and invest in a college fund for his kids.

If Gavin sells his home, after fees and taxes, he could walk away with around $214,000. This could be used for a down payment on a home in the US, investing, or saving for retirement. Selling seems like a good move to create financial stability for Gavin and his family.

Selling the home could free up income by eliminating credit card debt and interest payments. Gavin could invest wisely, potentially buying a comparable home later. Selling now with the chance to rebuy later seems like a better financial bet for Gavin’s future.

In Gavin’s case, selling the vacation home appears to be the best move for his financial security and future plans. It could lead to a less stressful and more financially secure future for him and his family.

Read more at Yahoo Finance: Should I sell my vacation home that I dream of living in when I retire to pay off $50K in credit card debt?