Debt Management Program the right way to go?

Question by Moonlight177: Debt Management Program the right way to go?
We are drowning in debt. So far we have managed to get our MINIMUM monthly payments out each month but we are getting no where. Would a debt management program be a good option for us? What exactly is it? Where do I find a reliable one to work with?

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Answer by PureOrLady
congrats on the minimum monthly-stop using the cards. Now call all the cardholders and ask nicely if they have any options to reef interest- or reduce fees. Create a workable budget and try to pay off the highest interest stuff first. There is nothing a debt management program can do that you can’t do on your own. Creating the budget is the key. Living by it is the magic.

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Q&A: Mortgage with existing debt and no money down?

Question by : Mortgage with existing debt and no money down?
I have no money down and a good amount of debt (approx.. 60,000 with student, cars, and credit cards.) Would I be able to get a mortgage to buy a three family home and rent out two of the floors? If I was to roll my debt into the mortgage and take out a $ 200,000 mortgage (debt, house, and fix-up money) I could pay the mortgage with my paycheck each month, no questions. First time buyer

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Answer by Peter B
Ummmm….A lot depends on the value of the property. While you might be able to afford a $ 200,000 loan with your normal income, what the lender will consider as more important is the value of the property. If the property is not valued at more than $ 240,000, they would probably not lend the amount you want.

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Is it better or worse to carry a mortgage debt when trying to secure scholarship or grant money for college?

Question by meg_p_lee: Is it better or worse to carry a mortgage debt when trying to secure scholarship or grant money for college?
My daughter will be applying to colleges next year.

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Q&A: Why did McCain propose to nationalize bad mortgage debt if socialism is dangerous?

Question by Ms Stevie: Why did McCain propose to nationalize bad mortgage debt if socialism is dangerous?
this $ 300 Billion proposal on top of the $ 700 Billion sub-prepared related securities bailout….has he converted to being socialist? Next thing you know he will be asking to borrow from the sovereign funds in China and Dubai….So Sheeple, are you saying socialism isn’t dangerous?

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Answer by BO
He shouldn’t have proposed it. He is only trying to solve the eaten that democrats created.

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