Want to Get Out of Debt Fast? Avoid These Classic Mistakes

Who wouldn't want to get out of debt fast? Avoid these classic mistakes and make it happen!Who wouldn’t want to get out of debt fast?

Debt can be an enormous burden, one that weighs on you and holds you back from many opportunities. So of course, the quicker you can change that, the better.

The only problem with that is, when your main goal is to get out of debt fast, sometimes you can lose objectivity or be tempted into things that aren’t such great ideas.

That means that often what seems like the slowest way is actually the fastest, and vice versa.
Read more

Alternatives to Loans: 5 Things to Do Instead of Borrowing Money

5 things to do instead of borrowing money -- great alternatives to loans!Probably the most critical step to getting out of debt is to quit borrowing. That means you NEED to find alternatives to loans.

That said, the idea of turning to debt for help is so pervasive that it can be hard to even think of other options. Borrowing money feels like the default solution, especially when you’re stressed out and worried.

But there ARE other choices out there, and many of them are a whole lot easier than you think. Here are 5 alternatives to loans:
Read more

Manual Underwriting Magic: Getting a Mortgage With No Credit Score

Have you ever wondered how to get a mortgage without a FICO score? Manual underwriting could do the trick!Have you ever wondered how to get a mortgage without a credit score? If you’re in decent financial shape, the short answer is to use manual underwriting.

Not many people are familiar with the process of qualifying for a mortgage using manual underwriting, so I’m happy to share Jessica’s story below.

(She got a manually underwritten mortgage when she bought her home earlier this year, and she’ll be telling you all about how that worked shortly.)

But first, let’s get an important term out of the way.

Manual underwriting means someone individually figures out the level of risk involved with giving you a mortgage.

Instead of software automatically checking your credit and using an algorithm to decide whether or not you’re a good risk, a person does so. (Using information you provide to show you’re likely to repay the loan.)

Manual underwriting can be good for people who:

  • have what’s known as a “thin” credit file
  • don’t have a score because they don’t have debt (woohoo!)
  • have a somewhat recent bankruptcy or foreclosure

Now on to Jessica’s article, which is all about her experience with convincing her mortgage broker to go the manually underwritten loan route.
Read more