Secure Debt vs. Unsecured Debt

Knowing the difference between Secure Debt vs. Unsecured Debt is critical when you need to get out-of-debt. Secure Debt is debt which has collateral pledged against the debt. For example, when you take out a mortgage on your home, you are using your home as collateral for the debt. In the event you are unable […]

Bondage

Can you believe the amount of debt the average US citizen has accumulated?

The cost of making minimum payments on credit cards & mortgages

Even though the below video talks about Canadians, it applies to everyone. Minimum payments on debt cost you a lot of money. Published on Jun 28, 2013 So many Canadians are living in debt. They buy and then just make the minimum payment on their credit cards. So how does your debt get so big? Read […]

Home loan mortgages to avoid

The home loan mortgages to avoid are : Interest only loans Adjustable Rate Mortgages (ARM’s) Balloon Loans The reason to avoid Interest only loans is because you never pay any money towards the principal loan amount that you borrowed. You’ll never payoff that loan. Adjustable Rate Mortgages  provide a low rate and payment in the beginning […]