Home loans
April 27, 2022
I’m Miriam Neff with Wise Women Managing Money-and I’m Valerie Neff Hogan
M A recent advertisement encouraged veterans to take loans against their homes up to 100% of that home’s value.
Terrible idea. The add continued. $100,000 in your pocket. What would you like to buy with that? What peace of mind?
V Very bad idea. Any disruption against your income meaning you can not cover that mortgage and loan, and your home is forclosed. Where’s the peace of mind in putting your housing at risk for that? Scripture teaches that we earn and then spend. Not borrow and spend.
M Are veterans vulnerable? For sure. They’d like to give their families more. They don’t get big raises or bonus. They sacrifice much. Don’t get that loan. Earn it, don’t borrow it. And don’t fall for the trap.