1

more food for thought

Submitted by Nora Dunn on October 28, 2007 - 14:35.

As Jon Morrow points out, qualifying for loans like mortgages can be affected by the debt to income ratio.

Also, you can't usually use retirement savings plans (if I'm not mistaken) as collateral to borrow against in the case of applying for a loan of sorts, be it a mortgage or major loan for a second piece of land or a vehicle.

Just another case for having some assets outside of 401ks and Roth IRAs.  

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