ARM forceing changes
Date: Tue, 10/03/2006 - 05:21
A couple of years ago I signed a ARM loan (dumb but done)on my house that freed up money to pay bills.Now it's taking more money from my $15000 cc debt and my debt to income ratio is @ 55%. I got to find a way out of this.
There is a way to improve your debt to income ratio only when a
There is a way to improve your debt to income ratio only when a large chunk of debt gets paid. You have two options to do this
Increase your income
Lower your expenses
Find out how much your current job pays. If you can get some hike elsewhere, try for it.
A part time job will be very helpful. You will do this for a short time just to improve your debt to income ratio and lighten your debt load.
Review your investments. The rate of return matters. If you are getting less on your savings accounts and investment products, do reallocate some of your money to higher yielding accounts.
