In terms of the amount or total value of debt, however, the proportions are quite different, as illustrated in Figure 4.
For single families, the total amount of debt owed is $21,371 million, of which 69 percent represents mortgage debt, 12 percent represents student loan debt, seven percent represents loans and credit card debt and 13 percent represents other types of debt. For couple families, the total amount of debt owed is $71,032 million, of which 82 percent represents mortgage debt, two percent represents student loan debt, six percent represents loans and credit card debt and 10 percent represents other types of debt. With debts this high, most individuals will have to look for the best credit card for someone with no credit, other wise borrowing money is not an option. With debts racking up, it can be a very stressful time for those with financial worries. That’s why looking into sites like iThinkFinance could be a reasonable solution for some, when those debts do pile up it can be very overwhelming and difficult to keep on top of, but looking into a debt consolidation loan will help you with these struggles by allowing you to pay off the multiple debts you hold, as well as being able to easily pay off this loan in instalments. For those looking to get a mortgage at competitive rates, affordable down payments may want to check out https://www.sofi.com/home-loans/ for a quick, painless process so that you can get the ball rolling on your new home as quickly as possible. Some mortgage lenders will take your professional occupation into account, for example, if you are a doctor you may be able to get a loan similar to these physicians mortgage loans or other professional loans. These were created as a way to help professionals find the best loan for them.