Dave Ramsey Quotes

Because the fees associated with a reverse mortgage are high, such loans make sense only for borrowers who expect to live in their home for a number of years.

Your mortgage shouldn't have been treated as a wager - it should be a way to provide a home and financial stability for you and your family.

Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?

We want to help Canadians be able to get a home that they can afford.

I need to be able to save some money, so I can buy a house.

If you're going to live in the house make it your goal to just pay off your mortgage.

The way we finance homes in this country is slow, filled with middlemen, who run a nonstandardized evaluation process. This makes financing a home cumbersome and difficult.

It's cheaper to buy a house and finance it than it is to rent in many markets.

Some financial advisers say anyone who may move in less than seven years should not take out a reverse mortgage.

I was only 21 when I bought a five-bedroom detached house in Stoke-on-Trent that was way outside of my financial status in life. I did it by borrowing money from my family and the bank, taking out a huge mortgage.

While a reverse mortgage can indeed be a viable way to generate income, it is very important to understand that after you take out a reverse mortgage, you will still be responsible for paying the property tax, the insurance premium, and all the maintenance costs for your home.

Yes, Americans can still get credit for cars and trucks and refrigerators, and those businesses are doing well. But just try to get a home loan now.

The Federal Government is achieving its stated goal of helping more minorities go from being renters to being owners.

Unlike other loans, a reverse mortgage doesn't have to be repaid until the borrower moves out of the home or passes away.

I still think buying a home is the best investment any individual can make.

Buying a home is exciting, but it's also a big financial commitment.

One of the biggest challenges is that once somebody realizes that they're ready to buy a home, then they realize that they haven't prepared properly, and it takes a while.

In a way, I've made a career out of sweat equity, and I've enjoyed sharing what I've learned in the process. It's a great feeling to educate people on how to get into their first or fifth home in the most economical way possible.

Those carrying a credit card balance should scale back to making the minimum payment each month so they have more money to put into savings.

If you are worried about job security and do not have an adequate emergency fund (ideally eight months' worth of living expenses stashed away in a federally insured bank or credit union), you need to focus more on saving money than paying down the balance on your credit cards.

Especially if you're over 40, shortening the term of your loan to pay it off sooner could make you mortgage-free in retirement.

Many a man who pays rent all his life owns his own home; and many a family has successfully saved for a home only to find itself at last with nothing but a house.

Pull in your belt, spend less, and reduce debt.

Debt certainly isn't always a bad thing. A mortgage can help you afford a home. Student loans can be a necessity in getting a good job. Both are investments worth making, and both come with fairly low interest rates.

It's easy to underestimate the real cost of home ownership.