Tag Archives: Mortgages

Bad Debts and How to Avoid Them…

Do you know what a bad debt is? A bad debt usually involves owing money for something that is neither essential to your way of life, nor does it advance your future prospects. So, student loans, mortgages or car payments wouldn’t necessarily be bad debts, but they can turn into them. Bad Debts: How They Happen and How to Avoid Them When a Mortgage Goes Bad– Owning a home is probably going to be one of your greatest assets, but if you are not careful, you could get in over your head. Carefully analyzing your income to determine if you can afford a home is key, but you also need to take a good look at your potential mortgage as well. Will the interest rate be fixed or adjustable? Will it be easy to refinance later? Are there hidden fees like fines for early payment or balloon payments? Not knowing…
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