You may have heard the term “good debt” and “bad debt”. Good debt is typically a mortgage payment, car loan, and student loans; loans that have a consistent monthly payment and help build credit. Bad debt is considered revolving credit cards or...
Since the economy took a downturn in 2008/2009 there are still a larger number of homeowners who are underwater on their home loans meaning they owe more on their mortgage than their home is currently worth. This has lead homeowners to wonder what will happen to their...