Don’t under estimate the power of compound interest. It can work for you or against you. According to Investopedia the definition of compound interest is: Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. This concept is so powerful that Albert Einstein is said to […]
In the early 2000s, property values were rising at a rapid rate and bringing with it newfound home equity. As property values rose and mortgage rates dropped, the temptation to refinance and take cash out became irresistible for many. This financial transaction is not so affectionately known as “using your home as an ATM.” It’s officially known as […]
