Debt Handling – Mortgage Refinance Is It Right For
Debt Handling – Mortgage Refinance Is It Right For You?
There are several interlocking reasons to consider refinancing your mortgage. When rates are low, you can lower your monthly payment and/or the total amount of interest you will pay over the life of the loan. You may also want to take out some equity to [...]
Debt Handling – Low Interest Credit Cards Savior or
Debt Handling – Low Interest Credit Cards Savior or Devil?
Of course, the title is an exaggeration on both sides. Credit cards are neither your salvation nor a destroyer. They are a tool, and how you use that tool is up to you.
It can be used for the sake of convenience, for online shopping and [...]
Debt Handling – Inflation and Interest Rates
Inflation makes tomorrow’s dollars worth less than today’s. That makes borrowing more attractive to borrowers, but lending less attractive to lenders. In order to compensate, lenders raise interest rates, since (among other things) they too know that the dollars they will be repaid next month are worth less than the ones they loan out today.
So, [...]
Debt Handling – Individual Voluntary Agreements IVA
In the UK there’s a formal name, IVA, for the agreement between a debtor and a creditor to alter debt terms. The U.S. may not employ the name, but the idea is essentially the same. It’s a method for agreeing to settle an outstanding debt, usually one that’s overdue and that the debtor can’t pay.
The [...]
When Paying More Saves You Money
When your goal is to get out of debt, paying more up front can save you a LOT of money in the long run.
Here’s how:
Let’s start with a mortage. If you pay off half of your mortgage payment every two weeks, instead of making one payment once a month, you will end up making 13 [...]
