Don’t Take Loans Against Your House!

Here is an excellent video that explains why you have to be so careful of taking on any kind of debt.  Elizabeth Warren is the leading expert and has written the book the Two Income Trap.

One family in the video ends up with two million in medical debt.  They still owe a hundred thousand and are bankrupt.  Another family is bankrupt due to job loss.  Their home is worth less than they paid for it.  The vast majority of financial problems start with such nonsense as a home equity loan to finance a new kitchem.

Use your old kitchen until you can pay for remodelling it in cash!

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