Our Smart With Debt blog guides you on how to live the life you desire with your own money, not borrowed from banks or lenders. We strive to support those who are serious about managing their debt and discovering ways to leverage it for financial gain.
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Are Second Mortgages Riskier Than First Mortgages?
Categories: Debt Management, Mortgage
Today we are going to discuss whether or not second mortgages are riskier than first mortgages. Understanding Mortgages First and Foremost, What is a First Mortgage? A first mortgage is the original loan that is taken out in order to buy a property. It’s the primary loan on the house. However, if you don’t pay, […]
What is the Difference Between a First and Second Mortgage?
Categories: Debt Management, Mortgage
Today we are going to discuss what the difference is between a first and second mortgage. Let’s break down too not only show what they are, but more importantly how they differ. First and foremost, What is a First Mortgage? To clarify, a first mortgage is the primary loan you take out to buy a […]
How a HELOC Works
Categories: Credit Tips, Financial Terms, HELOC
Today we are going to discuss how a HELOC works. First and foremost, a Home Equity Line of Credit (HELOC) is like having a credit card tied to your house. Let’s break it down! First, What is a HELOC? To say it another way, a HELOC is a loan where your home acts as the […]
HELOC vs. Cash-Out Refinance: What’s the Difference?
Categories: Debt Management, HELOC, Refinance
Today we are going to compare and contrast a HELOC vs. Cash-Out Refinance. To put it another way, when you need cash, using your home can be a great option. Therefore, two popular choices are HELOC and cash-out refinance. However, what’s the difference? Let’s break it down. First, What is a HELOC? To clarify, HELOC […]
Debt Consolidation with a HELOC
Categories: Debt Management, HELOC
Are you buried under a pile of bills? Consolidating debt can help. One way to do this is with a HELOC. Today we are going to discuss debt consolidation with a HELOC. Let’s break it down. First and foremost, What is a HELOC? A HELOC is a Home Equity Line of Credit. To put it […]