Archive for the ‘Home Mortgage Calculator’ Category

The IOU Calculator: Accepting Your Responsibility With Debt

Thursday, June 6th, 2013

keyThere are those that just do not like to deal with debt. To avoid their responsibilities with debt, a person may simply wish to kick the proverbial can down the road. They might be able to pay down their debt now or take steps to refinance, but they find it a little easier to just avoid the problem completely at least for the short term. Sometimes, you just have to take the IOU calculator serious.

In other words, they might engage in a very obtuse strategy for paying off their debt. The strategy they employ might make sense to them, but probable not so much to anyone else.

No, that is not meant as a joke. There are some really bad ideas that entail doing anything but run figures through the IOU calculator and determining what the best strategy to pay of debt quickly and having to cover too much interest.

Rather than paying twice the minimum payment on a credit card statement, a decision might be made just to make the minimum payments, ignore the bill and then make a $2,000 payment at the end of the year. The notion here is 350 days of the year do not have to be spent thinking about the credit card.

Honestly, ideas such as these are disastrous and should not be applied to any debt be it credit card or mortgage related.

The IOU Calculator: Accepting Your Responsibility With Debt

There are those that just do not like to deal with debt. To avoid their responsibilities with debt, a person may simply wish to kick the proverbial can down the road. They might be able to pay down their debt now or take steps to refinance, but they find it a little easier to just avoid the problem completely at least for the short term.

In other words, they might engage in a very obtuse strategy for paying off their debt. The strategy they employ might make sense to them, but probable not so much to anyone else.

No, that is not meant as a joke. There are some really bad ideas that entail doing anything but run figures through the IOU calculator and determining what the best strategy to pay of debt quickly and having to cover too much interest.

Rather than paying twice the minimum payment on a credit card statement, a decision might be made just to make the minimum payments, ignore the bill and then make a $2,000 payment at the end of the year. The notion here is 350 days of the year do not have to be spent thinking about the credit card.

Honestly, ideas such as these are disastrous and should not be applied to any debt be it credit card or mortgage related.

The IOU Calculator: On Getting Your Finances Together

Friday, May 31st, 2013

No one would ever wish to deal with issues associated with debt, but there comes a time when you positively must. Going year to year (to even another year) with fiscal problems is not going to be a very smart way to deal with personal finances. The IOU calculator might not always be kind, but it is probably accurate and it may prod you to take steps to clean up your current fiscal situation. Among the very best ways you could gain better control of your finances would be to refinance your current mortgage and acquire a better interest rate. Some say that banks only lend money to those that have it. That is partially true. You do need an income. Most importantly though, you will need to have a good credit rating. Unless your credit rating is good, refinancing a mortgage can be difficult. Consider this another reasons why you may have to take time out to finally improve your credit rating.

Even if you do not want to refinance a mortgage, fixing your credit would be a prudent step to take. Yes, there are refinancing offers for those that have bad credit and they are all worth looking into. However, if you truly want to acquire the best deal, you should look towards cleaning up your credit rating.