"The debt is the symptom, not the problem. That distinction matters enormously, both for this caller and for anyone who has ever watched a financial crisis reveal something deeper about their relationship."
"You do not refinance credit card debt into your mortgage ever, unless it's to avoid a bankruptcy. And you're not bankrupt, you're just out of control, have a horrible system, and a questionable marriage."
A woman discovered her husband had hidden $30,000 in credit card debt, affecting her credit score. He suggested a cash-out mortgage refinance to address the issue. However, this approach would secure the debt against their home, complicating future asset division. Dave Ramsey emphasized that the debt is a symptom of deeper problems, and refinancing credit card debt into a mortgage is inadvisable unless facing bankruptcy. The current interest rate environment further complicates this financial strategy.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]