Monthly Archives: May 2015

9 easy steps to the Darko debt payoff schedule

debtfree

Have you ever felt the need to cut back on the amount of debt you have? Have you ever felt annoyed when debt collectors call you? Have you ever felt guilty about not opening your mail because you hate seeing how much you owe? Have ever used one credit card to pay off another credit card debt? Some of you might recognize this as the CAGE questionnaire used for alcoholism screening. Why use this questionnaire to describe problems with debt? Read the rest of this entry

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Nii’s accidental landlord nightmare! (With pictures…)

rentsale

In the last post, I described how I bought a sinking house in Atlanta despite having six-figure debt, a small salary, and no plans to stay in the house past five years. By the time I realized I needed to sell my house, the housing market crash was in full effect and my house was worth 60% of my current mortgage. My biggest problem was that I was leaving for Miami for one more year of training. Paying rent in a place as expensive as Miami and paying my mortgage would have easily eaten up over 98% of my paycheck each month. Read the rest of this entry

Nii bought a house and it sank!

housing_crash

Frontpage Mag image

It was 2006 and anyone, I mean ANYONE, could get just about any house they wanted.  No money down, bad credit. You made $30K a year and you wanted a $450K house; you got it! Subprime lending was at it’s prime! After med school I was off to Atlanta, GA, to start my general surgery residency program. After all of those years in school, I felt like the late Johnny Kemp. “Just got paid! Friday night!”  Not a whole lot of money, but I was getting paid and not living on my student loan checks anymore. Maybe it was the feeling of “I have finally arrived” or maybe I just needed to feel like a full fledged adult… Whatever the reason, I was ready to cash in those delayed gratification checks. And I had the perfect timing! I found myself smack dab in the center of the housing boom. Read the rest of this entry