Personal Finance and Money Management

In the third quarter of this year (2009) commercial foreclosure postings in the Dallas-Fort Worth region has jumped by leaps and bounds. Nevertheless these foreclosures of commercial units are still below 5% of the total number of foreclosures in the region comprising of four counties.

During this year the lenders filed 2,431 commercial foreclosures forcing their sales. These properties comprised of shopping malls, warehouses as well as plots as per a report released recently by Foreclosure Listing Service.

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With so many types of debt being out there, you’re probably wondering what debts that you should pay off first.  Below is a list of the debts that I would recommend that you pay off first.

Check Your

Take a close look at your credit report to see if there are any small debts on there.  Many people owe small amounts on things like medical bills or department store credit cards that they may not even know about, but are hurting their credit rating.  They may even be errors for debts that they no longer owe or that are for another person.  If you have any unpaid debt listings on your report, contact the company listed on the report and resolve them before you focus on your other debt. 

Hang On to Student Loans

Government-sponsored student loans often have to lowest interest rates of any type of debt.  If you have other debts, like credit cards, home equity loans, or even car loans, it is usually a good idea to make only minimum payments on your student loans and put any extra money into paying off your other debt first. 

Pay Off Small Cards First

Part of your credit rating measures what percentage of your available balances your are using.  If you have some credit cards with low credit limits, work on paying them off first, one at a time.  Even if their interest rates are slightly lower than some other cards you have, it will help your credit if you focus on the smaller cards first because you can quickly reduce what percentage of those credit limits you are using.  Plus, it’s a great morale boost!

Pay Off Your Cars

Many people just take it for granted that they will always have a car payment.  The car leasing industry is built around this idea.  However, it doesn’t have to be this way!  If you have taken care of your credit card debt, don’t stop there–work on paying off any cars you own.  It is amazing how much you can save on interest by paying your car off even a few months early.  Once your car is paid off, focus on maintaining it and resist the temptation to buy a new car earlier than you need to.

After they rushed to cash in on a government tax perk the previous month, Americans signed a great deal fewer sales contracts in November, according to a report released Tuesday by the National Association of Realtors. NAR’s fore-finger of pending home sales—which uses signed contracts, not closings—dropped 16 percent from October to November. Although the measure remained 15.5 percent above its year-earlier level, November’s reading was significantly less encouraging than October’s, when the index jumped nearly 32 percent higher than October 2008. While economists had predicted a modest monthly decline, the report was much worse than expected. “The consensus was for [pending home sales] to be into disrepute 2% … ins

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You’ve seen the commercials, “Get out of debt fast!”  Sure, it can happen, but before you start reading, just know that you’re not going to get out, just by pressing a magic button.

Analyze your financial situation

Oftentimes, people are so far into debt that they lose hope.  In doing so, they sometimes lose track of where exactly they stand financially.  It may be the case that things are not as bad as they seem. In this si

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