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Archive for the Mortgage Debt category

Feb

What Is Your Net Worth?

An American remarked to his friends that a homeless man on the street was worth more than he was because the homeless man couldn't get credit and therefore had no debt. The man may not have had any money, but he didn't owe any money. Net worth is determined by adding up all of a person's assets and...Read more...

Sep

Are interest only mortgages dangerous for my financial health?

posted by admin in Interest-only Mortgage, Mortgage Debt

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Selecting a mortgage can be a complex task but it is a crucial task. There is a never-ending choice of mortgages from which you have to choose the one that suits you the best. If you are relatively new to the mortgage "game" you may be attracted to an interest-only mortgage for the simple reason that...Read more...

Aug

Defaults in US a warning for Australian borrowers

posted by admin in Housing Market, Mortgage Debt

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It is now old news that the great US Housing Bubble was created through the huge borrowing of Americans. All up they borrowed $US1 trillion (that's AUS$1.1 trillion) from banks. The downside was that they used the soaring values of their homes as collateral security. The values tanked and struggling...Read more...