Author Jordan Goodman: How to master your debt

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Author and personal finance expert Jordan Goodman has tips for how to master your debt.

Tips:

It makes sense to refinance your mortgage if your current rate is 4% or higher

You can pay off a 30 year mortgage in 5-7 years using a Home Equity Line of Credit (HELOC) strategy

Get your mortgage payment modified so you can avoid foreclosure

Find lower interest credit cards and those with better rewards and perks

Consolidate high interest credit card debt with a nonprofit credit counseling firm to pay the debt off faster

Monitor your credit report and score to make sure it is accurate and clean up errors

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