The causes of mortgage stress...

Don't sail out farther than you can row back. This Danish saying is sound advice for anyone thinking of borrowing to buy a home, particularly now that interest rates are low and house prices have risen sharply.

According to a paper for the Centre of Policy Development and University of Canberra, Australians have a tendency to be over-confident in our ability to repay loans. We also underestimate the likelihood of things potentially going wrong in our lives.

Have you ever heard yourself or someone else say "I'll be able to repay my loan, provided I keep my job, don't get sick and I'm not hit with any large unexpected bills"? Chances are you probably have. but things can and often do go wrong.

Read 'Destress your mortgage'

For more information, contact Rick Maggi at Westmount Financial on 9382 8885.

Rick Maggi Westmount Financial Clear Focus. Better Solutions.