05-04-2008, 02:34 PM
I listen to an all news radio station, but on Sunday mornings they put on this paid advertisement with call in listeners. This Mortgage Makeover guy "Micheals" swears that everyone should take out their equity before it is all gone and reinvest.
I watch the Dave Ramsey guy on cable tv and first listened to him on radio on a trip. He insists that we should never buy anything on credit, and even cut up your credit cards. Not sure how one is to buy a house with Daves's approach.
Which of these two thoughts would be the wisest? I consider the guy trying to have you go more in debt and use your equity to buy something else a risk taker.
Anyone familiar with either?
I watch the Dave Ramsey guy on cable tv and first listened to him on radio on a trip. He insists that we should never buy anything on credit, and even cut up your credit cards. Not sure how one is to buy a house with Daves's approach.
Which of these two thoughts would be the wisest? I consider the guy trying to have you go more in debt and use your equity to buy something else a risk taker.
Anyone familiar with either?