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December 2013 Archives

Holiday credit card debt can lead to financial challenges

With the approaching year’s end and the holidays winding up, many people in Broward County may suddenly find themselves facing a large amount of credit card debt. This is not uncommon since retailers often pull out all the stops to entice shoppers with end-of-year sales and fabulous discounts. Sometimes, people find that they have over-extended themselves and this can create unexpected financial challenges.

Fewer underwater mortgages may help some stop foreclosure

As Florida homeowners know all too well, many families are currently facing foreclosure and other financial challenges as a result of the sudden drop in home prices that occurred in recent years. Home purchases that once seemed like sound investments quickly turned into financial liabilities as thousands of homeowners found themselves owing more on their mortgage loans than the properties were worth. And while there is evidence to suggest that Florida is among the states hardest hit by such unstable housing market conditions, new figures also point to the fact that slow progress is being made in the direction of market stability.

Struggling economy hits high-end housing market

While cities all around the country have been seriously impacted the housing bubble burst and economic crisis in recent years, places like Miami and Fort Lauderdale, Florida, were hit especially hard. Now, new evidence suggests that the latest demographic facing foreclosure in large numbers may be among the wealthiest in the nation. And apparently such findings suggest both positive and negative changes in the housing market.

Even as student debts mount, graduates can't seek bankruptcy

Many students entering college in Florida and other states around the country do so with the understanding that they will fund their education with loans. After all, the general consensus is that the investment is worth it since a college degree is necessary to improve one’s employment prospects in the future. As a result, new evidence suggests that university graduates are facing more student loan debt than ever before.

Two approaches to eliminating credit card debt

Just as teachers often use different techniques to explain concepts to students, financial advisors can typically recommend different ways for clients to eliminate debt. Countless people in Florida and beyond carry consumer debts like credit cards, but do not know the best way to pay off their loans. Fortunately, there are a couple different approaches people can take to understanding and eliminating debt for good.

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