managing our mortgage debt..?need advice

Hi komprasone,

You should take out such a loan which is affordable for you to pay off. You can check out whether or not you can afford the loan by using the given calculator:
http://www.mortgagefit.com/calculators/howmuch-afford.html

Once you take out the mortgage, try paying your mortgage dues on time. You can even put some extra money each month toward the home loan which will help you in paying it off faster. If you have a 30 year mortgage and have build up equity in your property, then you can refinance the mortgage and change it to 15 years fixed rate mortgage. This will help you in getting rid of the home loan faster.

Take care

Failing to make mortgage payments can have undesirable consequences. You do not want to lose your property at any cost. But you can avoid this situation by making small changes to your lifestyle. Draw a budget and set aside the amount required for mortgage payment. On the other hand, if you are not able to afford your mortgage payments, it may be a good idea to call your lender and work out an alternative. If you have tried all this and it doesn't work, call a debt management company such as "http://www.debtburst.com", "http://www.payplan.com", or "http://www.moneymanagement.com". They can help you with a good debt management plan.

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