Post Category: Debt Management
How Much Should Physicians Spend on Their Home To Avoid Becoming House Poor?
What Does A House Poor Physician Look Like? So you're pre-qualified for the million dollar home, but should you buy it? I'm sure you're not looking to become the next house poor physician, right? Yet, many physicians find themselves in this unfortunate position. Why?...
5 Physician Mortgage Loan Downsides You’ve Not Considered
Physician mortgage loans tend to get sold as the best deal. They’re positioned as a no-lose product that you’d be crazy to pass on; all the benefits of traditional mortgages but without the big down payment and at no extra cost. Add in the special provisions designed specifically for physicians and you’ve got the swiss army knife of mortgage loans. Sound too good to be true?
The Complete Guide To Physician Mortgage Loans
On the surface, physician mortgage loans look great. No money down. No jumbo limits. No private mortgage insurance (PMI). Finally, it seems like a product exists to reward you for your time training to be a physician. After all, it’s been tough. For the past few...
Should I Drop Out of PSLF?
Are you thinking about bailing out on PSLF? Before you sign on the dotted line, do yourself a favor and read this. So I’m talking with John. John has a big student loan balance... somewhere around $300,000. His work at a nonprofit hospital qualifies him for Public...
How to Change From IBR to RePAYE
Question: I’m planning to switch from the Income-Based Repayment “IBR” student loan repayment plan to Revised Pay As You Earn - “RePAYE”. How do I accomplish this without having any hangups? Well - this process varies depending on your circumstances: Scenario #1 If...
7 Habits of Our Most Successful Clients
The ability to help guide people during their journey and assist them in achieving their goals is a privilege, and we wanted to share some of the habits of our most successful clients.
Public Service Loan Forgiveness Application Denial Rate Over 99%
As of 6-30-2018, there were 28,913 processed PSLF applications. Of those, only 289 (or just under 1%) had been approved. Pretty lousy, right?
The Physician’s Complete Guide to Medical School Loans
Student loans have become a big deal! 37 million Americans collectively owe over 1 TRILLION dollars in student loans – and yet nobody seems to fully understand them.
13 Mistakes Young Physicians Make With Student Loans
Medical school loans have quickly become the most complex financial issue facing young physicians. The average physician in training owes well over six figures. And these aren't your normal run of the mill loans. Student loans today come with high interest rates and...
The Most Important Money Habits To Teach Your Children
Kids are like sponges. They’re ready to soak up whatever we’re willing to teach. Now is the time to be teaching our children about money.
Excess money mixed with lack of money maturity can ruin lives. At its extreme, money can be the difference between life and death.