FAITH

Tips, refinancing options for homeowners with large amounts of debt

Michelle Hargis
      • 86 percent of low and middle-income households who experienced financial hardship from 2009 -2012 due to unemployment and used credit cards to pay for basic expenses.
      • Nearly half of low middle-income households carried debt from out-of-pocket medical expenses in 2012.
      • 60 percent of low and middle-income households incurred credit card debt to help a child pay for college expenses.
      • 71 percent of low and middle-income households say that college expenses are a factor in their accumulation of personal credit card debt.