These days you can’t help reading and hearing the news about the home loans crunch. Who are to blame for this housing credit crunch? I think the blame is shared equally by the brokers, banks, borrowers, Wall Street, and the Government.
The only major loan payments that we have to make right now are for our home, and the expenses that we charge to our credit cards. We try to pay off our credit card balance on time each month but there have been occasions where the balance is more than we can handle in a month due to expenses incurred on our home improvement projects. But we make it a point never to carry an outstanding balance beyond three months.
We try to live within our means as much as possible because if we don’t, we could end up in a situation like those faced by home owners who can’t continue to make the payments on their home loans.