Using Your Home To Avoid Debt

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“I have plenty of experience going into debt. I’ve spent over half my life paying down a mortgage. I’ve taken out more than one home equity loan and have made more than my share of car payments. Have I ever been debt-free? Yes, for the first 18 years of my life. But now that I’m approaching retirement, I am nearing that state of equanimity once again. So I know how to get in and also how to get out.

There are plenty of ways to dig yourself deeper into the hole. For most of us, these are the top five debt traps…”

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Image by Catherine Scott via Wikimedia Commons.