Faith And Finances

In This Episode, We Look At: A Mortgage is not Consumer debt weighing on your shoulders. No one is going to offer to buy your credit card debt A mortgage should not be viewed as a sin, citing Romans 13:8 "Owe no man any thing". The Bible warns about being/staying in debt and encourages prompt repayment. If borrowing were a sin and not simply frowned upon, then we would be enablers to others' sin because the Bible encourages us to be liberal in lending and ready to forgive! Deut. 28:12, Psalm 37:21,26 You can sell your home, and the mortgage balance is taken on by the buyer (and you may pocket some equity in the proceeds). It is leverage; you can live in that home as long as you make the payments. It is the cost of living in your chosen home. Long-term Buying a home with a mortgage is not a short-term purchase. There is more risk of loss in the short-term due to fluctuating values. Your primary residence is NOT an investment It is a cost. It is collateral. Cosigning for a loan. Nope! A credit score