Toms River Mortgage Broker reveals 5 steps to avoid becoming house rich and cash poor

Ok, today we are going to talk about how to avoid being house-rich, but cash-poor. Being house-rich and cash-poor means you have more equity in the value of your home than you have in liquid assets. Or, your debt-to-income ratio is higher than 40%. Home ownership is a sound financial decision that helps build future stability. But it can also lead to hardship if you take on a financial commitment you can’t realistically afford. Here are 5 steps to avoid becoming house-rich but cash-poor. If you're looking for a top notch mortgage broker in Toms River, call us at (732) 904-7856.