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Personal Finance

I’ve stated many times in my posts that I’m aggressively paying off my second mortgage debt.  So, for anyone reading, it’s safe to assume that I’ve decided not to walk away from my mortgage debt like some people have.  Although, it’s my obligation to hold true to my word and payback my loan, I’ve never [...]

Before I rented out my rooms to roommates and even before I started graduate school, my debt ranked in the following order from the highest amount to the lowest amount:

• First Mortgage ($142,000 @ 6.125%)
• Second Mortgage ($35,500 @ 8.375%)
• Undergraduate Student Loans ($18,200 @2.625%)

This past week, I just realized my

Since my blog involves a little bit of personal finance and real estate, I’m going to take a step back from the real estate aspect of renting out rooms and talk about personal finance aspect.  Specifically, I’m going to talk about building wealth. Building wealth does not come overnight nor does it mean living the [...]

The choice to either save or pay off debt is often debate.  I decided to combine the advice from experts and do a little bit of both. From May of 2009 until July 2010, I was able to reduce one of my mortgage loans by 40% with the rental income.   What I didn’t mention was [...]

I initially rented my rooms as a way to pay for graduate school, but in May 2009, I graduated with my degree and no longer have tuition to pay for.  Since tuition is no longer a priority, I still continue to rent out my rooms, but use the income to pay off my mortgage debt [...]

I read an interesting CNN article about the time frame it takes to repair your credit history after defaulting on a previous mortgage.  According to the article, the frame time frame to rebuild your credit depends on what caused the default in the first place. The article goes into two potential scenarios that would cause a [...]