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If I consolidate my unsecure debt will this affect my chances of purchasing a home?

This is a good question that I will take by best shot at but I know the mortgage lending business is undergoing radical changes right now and getting a home loan has gotten MUCH harder in the past few months due to the housing market loan problems. Therefore, I suggest that you speak with a qualified mortgage officer (find one you can trust) to get a better answer.

Anyway, my 2 cents is that a debt consolidation through a credit counseling agency will be noted on your credit report as such. If your payment struggles are relatively minor and short term and your home buying plans are not for the near future, it may not be something to worry about. And it’s better you get help rather than start to fall behind which will do much more damage than a consolidation.

However, this question can only be truly answered when your full financial picture and future plans are understood which I why I say you should speak to the broker to get a complete answer. Once they know your details they will tell you exactly the type of home loan you can qualify for at this point in time.

Thanks.