MORTGAGE ADVICE
Paying Down Credit Card Balances vs. Closing the Accounts
There are two primary types of debt, installment and revolving. Installment debt is where one loan is taken out and paid back over time with regular monthly payments until the balance is paid off. Think of an automobile loan, for example. Revolving debt is debt where the balances can rise and fall over time as new charges are made while making payments against the debt each
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David Reed
Writer
David Reed is a multi-published author and mortgage expert. As a Senior Loan Officer and Mortgage Executive he closed more than 2,000 mortgage loans over the course of more than 20 years in commercial and residential mortgage lending.
AGENT RESOURCE
