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What else can I help you with?
What is the difference between bad debt and good debt?
Good debt refers to investments such as home mortgages or student loans provided you can manage the monthly payments. Bad debt is debt incurred for purchases that you don't need or cannot afford.
How can one pay off student credit card debt?
There are many ways to pay off student credit card debt. Some of the ways to pay off credit card debt are borrow against life insurance, get a home equity loan, renegotiate the term with a creditor and many more.
Does consumer debt include mortgage payments?
Consumer debt typically refers to debt incurred by individuals for personal or household expenses, such as credit card debt, student loans, and car loans. Mortgage payments, which are specifically for purchasing a home, are not typically considered consumer debt.
How can buying a house be considered good debt?
Buying a house can be considered good debt because it is an investment that can increase in value over time, providing potential financial benefits in the long run. Additionally, owning a home can also offer stability and security, as well as potential tax advantages.
Why did my credit score drop 100 points after buying a house?
Your credit score may have dropped after buying a house due to factors such as taking on a large amount of debt, opening new credit accounts, or missing payments during the home buying process.
Can you provide some examples of student loans and how they can impact a student's financial future?
Student loans are financial aid that students can borrow to pay for their education expenses. Examples include federal loans like Stafford and Perkins loans, as well as private loans from banks or other lenders. Taking out student loans can impact a student's financial future by potentially leading to high levels of debt, affecting their ability to save for other goals like buying a home or starting a business, and influencing their credit score and overall financial stability.
How do you use the word Prohibition in a sentence?
Laws can prohibit just about any activity.Poverty can often prohibit success. She wanted to prohibit students from bringing pack-backs into class, but the school had no rule against it.
Is a home mortgage debt considered a federal debt?
No. A federal debt is a debt that is owned to the federal government. A home mortgage is a debt that is owed to the lending agency, be it a bank, a mortgage company, etc.
What is the process of buying a home in Spain?
The process for buying a home in Spain is much like the process for buying a home in America. The major differences being the fact that you would be buying a home in a different country.
Will using home equity to pay off a large high interest rate student loan increase the risk of losing the home if payments are not made?
If you borrow against your home to pay off ANY type of debt and then do not make the payments, you can lose your home to foreclosure.
What is the impact on a credit score of getting a car loan within a year of buying a new home as a first time car buyer and home buyer?
The time involved has little effect. It depends on your income to debt ratio. Higher income, lower debt is good, while lower income and higher debt is bad. It also depends on the total amount used of you current available credit.
Can your home be taken for debt owed?
If it is a debt against the house.
