Tag Archive: mortgage

Buying an Asset with a Mortgage or Debt Doesn’t Necessarily Change your Net Worth

I got into an interesting conversation with a commenter the other day on another blog and it made me realize that there are some people out there who don’t actually understand some of the basics of Personal Finance. I don’t talk about the basics to often on My Journey to Millions, because quite frankly, how…

What Will My Mortgage Cost a Month?

cash house

Since the birth of our baby The Wife and I have been discussing future living arrangments lately.  As often happens her parents (who live about 2.5 hours away) are visiting a lot more since there is someone there more important than The Wife and I (i.e. my cute child).  But we only live in a…

Why Do Short Sales or Strategic Defaults Even Happen?

Home Foreclosure Sign

There seems to be a debate between whether it is ethical to strategically default on your home mortgage.  Where I personally land on the issue is probably irrelevant, but if you promise to read to the end you’ll get your answer as to what I believe.  If you walk away from your credit card debt…

WSJ Teaches YOU how to Become A Billionaire; Hint: Ignore All “Normal” Advice

billionaire

Gregory Zuckerman wrote an Article in the WSJ titled, “Greatest Trade: How Can you Make $20 Billion” which provides 8 easy steps to become a Billionaire.  Where did these steps come? Mr. Zuckerman follows two years of John Paulson’s work. The article is entertaining, but I’d love to read an autobiography if ever produces it…

There are No New Rules when it Comes to First Time Home Buyers

personalfinancerules

Like one of my favorite bloggers out there, Bad Money Advice, I don’t really get all these “new” rules that are popping up everywhere.  I don’t believe the “its different” today BS.  I think most of the lists, at best, basically just rehash of old rules that I thought always existed (obviously, minus the past…

When Applying for a Mortgage don’t Forget to Calculate your Debt to Income Ratio

debttoincome

A buddy of mine is attempting to buy his first home, and learned a very valuable lesson that no one learns about until they attempt to buy their first house.  It is a lesson that most people do not think until their mortgage broker tells them the bad news.  I bet you are thinking, “Ugh another…