Debt includes all the money you owe. It can be credit card debt, student loans, mortgages, medical bills and car loans. Most Americans will carry some amount of debt, but sometimes the debt can get to be overwhelming. Learn here how to manage your debt and personal finances.
Would a Credit Card Balance Transfer Help?
Would a Credit Card Balance Transfer Help? A reader wonders if California resident who is overspending could be helped with a credit card balance transfer. Q: I read your interesting article recently about the homeowner being in a rough spot after moving to Sonoma County, California and taking on debt. I assume the $30,000 debt [...]
Debt: How One Bad Move Can Wreck Your Financial Life
Debt: How One Bad Move Can Wreck Your Financial Life Q: Thanks for your Love, Money + Real Estate financial newsletters. You helped me back in 2008 when the Great Recession hit and I was able to save my townhouse from foreclosure. Fast forward. I moved to Sonoma County, California about 10 years ago. I [...]
Which Debt to Pay First When Improving Personal Finances
Which debt to pay first when improving personal finances. Which debts to pay down first to improve your credit score and start building your savings. Q: I am "getting back on my feet" financially and would like to know how I should continue to improve my personal finances. Is it better to prepay my mortgage, [...]
Mortgage Delinquency is Down, Credit Delinquency is Up
Mortgage delinquency rates are down, credit delinquencies are up. CoreLogic reports 30-day-plus delinquency is the lowest it’s been in over a decade. It’s a good news, not-so-good news situation. First, the good news: More people are paying their mortgages on time. Unfortunately, credit delinquencies are up as more people are having trouble getting their [...]
Racking Up Debt Before Closing
Credit card debt can hurt your chances of closing on a home even if you have already been approved for a mortgage. What many borrowers don't realize is that the lender may take another financial snapshot of their lives just before the closing. The second pull of your credit history and credit score could come any time within a week or two of your scheduled closing date. Keep your debt-to-income level the same as it was at the time the loan was approved.
Real Estate Minute: Boomers Facing Debt Problems At Retirement
Real Estate Minute with Ilyce Glink Boomers Have Never Met a Debt They Didn’t Like and That’s A Problem When it Comes Time To Retire Original Air Date: October 6, 2006
Real Estate Minute: Taking Longer to Pay Off Your Debts Isn’t Always the Best Solution
Real Estate Minute with Ilyce Glink Taking Longer to Pay Off Your Debts Isn’t Always the Best Solution Original Air Date: September 2006
Real Estate Minute: Paying Down College Debt
Real Estate Minute with Ilyce Glink College is costly, but college debt affects your financial health for years to come Original Air Date: July 6, 2006
Debt Increases With Payday Loans
When you're paycheck isn't enough to live on or you find you need money you don't have you may decide to get a payday loan. But are payday loans a good idea? When you take out a payday loan you're usually getting an advance on your paycheck and you'll increase your debt. Payday loans often end in exorbitant interest payments and bankruptcy court because debtors cannot repay the debt.
Debt Reduction By Paying Off Higher Interest Loans
The best way to decide which loans to pay off first and reduce debt is to look at the interest rates. Student loans usually have lower interest rates than car loans and are partially tax-deductible. If you have extra money at the end of each month, pay off the highest interest loans first and pay as much into your retirement accounts as you possibly can.