The latest issue of ‘The New Early to Rise’ newsletter has been released. The featured article is titled “A Self-Made Millionaire’s Guide to Dealing with Debt”.

Mark Ford says, “I had my first serious run-in with debt when I was 30 years old.

My wife K and I were renting a condominium in Washington, D.C. Our landlady came to us with an exciting opportunity: We could buy the condo for $60,000 with no money down. For just $100 a month more than what we were already paying for rent, we would be paying a mortgage. It sounded like a great deal, so we took it.

What we bought was a negatively amortizing mortgage with a three-year term and an 11% interest rate. That meant, every three years we were paying $19,800 in debt service and another $3,000 in closing costs”.

Read rest of the article on ‘The New Early To Rise’ newsletter site.

‘The News Early To Rise’ Newsletter

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