photo credit: LordFerguson A great financial principle is “Don’t buy anything you don’t understand.” If everyone lived by that adage, I have a hunch that very few reverse mortgages would be sold. Regular mortgages are confounding enough without being challenged to think in reverse. Just the term “payment” in a reverse mortgage can mystify the most savvy […]
Expect Rate Hikes Even After the New Credit Card Act Takes Effect
photo credit: TheTruthAbout… The major changes required by the Credit Card Act of 2009 will kick in on February 22. But just because Congress has tried to stifle the less than stellar side of the credit card industry, don’t think for a moment that banks have been sitting on their heels. Here’s how the new […]
What Is The Real Cost of Debt?
Your debt is costing you. No shocker there. But how much? And in what ways? My guess is that you are being affected in ways you don’t realize. So let’s explore: what is the real cost of debt?
Is There Such a Thing as Good Debt?
I confess at the outset that the phrase “good debt” sounds like an oxymoron to me. Because I view “debt” with great negativity, attaching the word “good” to it doesn’t quite resonate. I also confess that I am not sure that I can be absolutely objective in answering the “good debt” issue because “good” and […]
How to Work Out Settlements With Debt Collectors
Last week I popped a few buttons sharing how my son Jeremy and his wife Erin worked and sacrificed to eliminate all of their debt ($21,500) in their first year of marriage. I mentioned in that post that Jeremy and Erin had negotiated settlements on two old debts that had been sold to collectors. In […]
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