The Debt Free Lifestyle

Written by John Cook


Continued from page 1

We consider school loans bad debt. If you finish school, get a good high paying job and then attackrepparttar loan like mad, a school loan may work out. The problem is that there are too many things that can go wrong. At best, even if you do graduate and get a good job there are always a lot of other expenses at this time in ones life. You are really behind financially when you start your working life in debt.

Auto loans are bad loans that have become common practice to us. We pay interest on a vehicle that will only be worth one half of its original purchase price in five years. Lately it has also been common for us to borrow more than a vehicle is worth. We can trade a car in that we still owe on, and roll that owed amount over into another vehicle. This gives us a loan amount that is higher thanrepparttar 111748 value ofrepparttar 111749 car that we drive away. We have lost our capacity to say NO.

Co-signing is a bad debt that usually and unfortunately involves family. If someone cannot qualify for a loan at a regular lending institution, they should not get a loan. The fact that they can't qualify for a loan elsewhere should tell you that they are a huge risk. Use this opportunity to teach them how they can get what they want by working harder for it and delayingrepparttar 111750 purchase.

If you want to get off ofrepparttar 111751 debt treadmill, you must run as far away from debt as you can. You cannot use debt to get out of debt. Even if you do, you have not changed your habits; you must change your lifestyle.

John Cook is family oriented and likes to help people get off and stay off the debt treadmill and secure the financial future of their family. You can read more about securing your families finances at his website http://www.financeforfamilies.com.


California Bad Credit Mortgage

Written by Carrie Reeder


Continued from page 1

2. Find a seller who is motivated to pay closing costs or carryback a percentage ofrepparttar loan - If you find a seller who is really motivated to work with you, that may help you get approved with a lender. Ifrepparttar 111747 seller can pay your closing costs, this can free up that money so that you may have a small down payment. Ifrepparttar 111748 seller is willing to carryback a percentage ofrepparttar 111749 loan thenrepparttar 111750 loan-to-value may be low enough thatrepparttar 111751 lender may consider that as good as a down payment. Ifrepparttar 111752 seller is motivated to work with you, they may be willing to work through a down payment assistance program to help you make a down payment. It is illegal for a seller to give yourepparttar 111753 down payment for their house, but through down payment assistance programs like Neighborhood Gold andrepparttar 111754 Nehemiah program, it is totally legal.

3. Borrow or ask for a gift from relatives toward a down payment - After you have financedrepparttar 111755 house, you can usually take out a 2nd or 3rd mortgage up torepparttar 111756 full value of your house, and then you would be able to repayrepparttar 111757 relatives. Keep in mind that if you intendrepparttar 111758 money to be as a loan only fromrepparttar 111759 relatives, you would need to disclose that torepparttar 111760 lender before you close. Lenders usually have regulations about whererepparttar 111761 down payment is coming from and if you are not honest, it could be considered defrauding a lender.

To view our list of recommended bad credit mortgage lenders who can service California, click on this link: California Bad Credit Mortgage Lenders.

Carrie Reeder is the owner of ABC Loan Guide. ABC Loan Guide is an informational site with articles and lists of recommended lenders for bad credit mortgage loans.


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