20-27k seems high to me albeit I am far too young to have really delved into it that much but he has a credit score of 710 as of last month it was higher before he accumulated all this credit card debt. He also could have my oldest brother cosign if need be who has damn near perfect credit and probably an income of 150-200k.
edit. A few things, As I said he is about 400 over his budget (3100 take home), but I just moved in a few days ago and i'm going to be paying $500 for rent + utilities, lets assume he will get 10k a year relief on his student loans, and I anticipate paying $150-200 a month on food. If we consider that it would put his budget around 400 rent 700 student loans 250 car payments 100 food 150 dates/entertainment/eating out $20 beer $100 dogs $120 on utilities N/a credit payments.
That'll leave him with a surplus of $1300-credit card payments with 9 months remaining on his lease. If he intended on making a downpayment I'm sure he would cut another $100-150 or so from his expenses. So lets say he could raise 10k by the time his lease is up, plus 3k in tax returns (I mentioned this earlier but he should have gotten 4k back in taxes but filed as married but separated which I believe he said he couldn't deduct any student loan payments, either way he only got 300 dollars back is there any thing he could do about this? Sorry for being so vague I'm fairly new to all this)
edit. few more details He loves the company he works for currently and if they give him the 10k a year relief on school debt he won't leave. He is currently up for a huge promotion out of the country. If that happens the company puts up the house for sale and makes any mortgage payments until they sell the house. They eat the loss but pay out if they flip the house.
I understand the value loss by pulling out from his 401k but if he got a house for 100k, put 20k into it, and rented one unit out for 900 and was only making mortgage payments of 800 wouldn't that often the loss of value on that what you pulled out? He would also be using the money he would normally use for rent towards paying down the credit card debt or putting it back into 401k .