Despite the fact that the economy is strong with unemployment down and millions of jobs going unfulfilled, many who are working just don’t earn enough to make ends meet. For many, wages have remained flat for decades making it difficult to keep up as the cost of living has increased across the country. Many Americans continue to turn to credit cards to bridge the gap, putting out one fire at a time as unexpected expenses pop up on top of everything else. With credit card debt cresting at $1 … [Read more...]
Archives for September 2018
Trading Student Loan Debt For Mortgage Debt
With the average undergraduate leaving college with $30,000 plus of debt and with no plans to purchase a home anytime soon, mortgage lenders are starting to get more creative. Mortgage lender Fannie Mae, for example, has laid out a plan for student loan borrowers, and parents who have cosigned loans, to trade student loans for mortgages, offering incentives which might be worth a look. First, by expanding cash out mortgage refinance options, borrowers can roll a higher interest student … [Read more...]