Archives for December 2015

What Does the Fed Rate Hike Mean to Mortgage Rates?

On Wednesday, December 16th, the Federal Reserve (a.k.a. the Fed), in a long-anticipated and long-overdue move, finally raised its benchmark interest rate, the Fed Funds Rate, for the first time in almost a decade. While the Fed only raised the Fed Funds Rate 0.25%, the markets received the news with mixed Read More >

Is Interest Rate the Most Important Factor When Paying Off Debt?

I deal with this issue frequently as I help my clients get out of debt and the short answer is NO! That is not to say that interest rate is not an important consideration. It just means that there may be other considerations that may have a greater impact on the speed and efficiency with which you get out of Read More >

The 6 Biggest Mistakes People Make When Paying Off Debt

There are three primary types of debt available today: 1) Revolving, 2) Installment, and 3) Mortgage. Revolving debt is the most costly type of debt and is typically made up of credit cards, which allow you to use someone else’s money, pay down the balance, and use that money again. Installment debt is typically a Read More >

6 Outside the Box Methods to Get Out of Debt

Last week I wrote a post about ways a homeowner can use the equity in their home to consolidate and transfer their credit card debt to a more efficient method of financing. But not everybody owns a house and not everybody that owns a house has enough equity to allow them to utilize that strategy. This week I want to Read More >