An interesting concept is being put forward by a corporation called Global Equity Lending which,
according to them,is rooted in the fact that building a secure financial future is more difficult than
ever.The rules are changing and perhaps the old practices need to be revamped.GEL calls its new
philosophy, "Harnessing The Power of Your home loan" Individuals that have shown interest in Lending corporation Puts Forth A New Philosophy have also shown interest in mortgages with bad credit. A new approach to mortgages with bad credit is beneficial. 
     
     In 2004,credit card debt accounted for over half of the $2 trillion of consumer debt in the U.S.,
quadrupling over the last decade.Today,the average American household has $9,000 of credit card
debt at 14% interest.To pay that average off,at that interest rate would take ten years,totaling over
$9,000 in interest when all is said and done.The financial impact of this,which is virtually unrealized
is devastating.GEL claims to have a better way.Their thinking is that since you must borrow money
over the coarse of life,why not borrow it as inexpensively as possible.Credit cards,auto cash advances,and
personal cash advances are all high interest and non deductable.So why not harness the power of your
home loan?

     According to GEL,Americans operate under a mindset,when it comes to personal finance,that
has been burned into our country's psyche from the days of the great depression.That philosophy
is as such:First get the lowest rate home loan,then,set up a bi-weekly payment plan,and,whenever
possible send in additional payments.This way you pay off your home loan as soon as possible.
Sound good to me,right?Well,much to my suprise,this corporation claims that is exactly what we
should NOT be doing!On the contrary,their idea is one which is echoed by New York Times Best
Selling author of "The New Rules Of Money",Rick Edelman,who says,"You should get a big,30
year home loan and never pay it off."Edelman and GEL put rules forth which read like this:

1.Never send extra money to your home loan
2.Stay away from bi-weekly plans.
3.Make the smallest payment with the biggest tax break.
4.Putting extra money toward your home loan is like putting it under the matress.

 To back up his claim,Edelman offers five distinct reasons why you should carry a long cash advance:

1.home loans don't lower your houses value.Your house will grow in value whether or not you
have a home loan.
2.Your home loan is the cheapest money you'll ever buy.Why pay credit card at 18%,when
you can borrow at rates under 5%.
3.Your home loan is the best way to lower your taxes.There aren't many tax breaks left.
Mortage cash advances,unlike credit cards and car cash advances are fully tax deductable.
4.You should get cash out of you house while you still can.You may find it difficult to
get a cash advance if something like a loss of job comes up.
5.home loans become cheaper over time.Most times your payment will stay the same
over the years while your income rises,making it easier to pay over time. Problems around short term loans uk can sometimes be sorted out with a little homework. Once you have a better grasp of short term loans uk you can make more money.

To further illustrate their beliefs,GEL presentations include a case study called,"The Tale of Two
Brothers", where they do a financial comparison of two fictional brothers.In the story,Brother A,as
he is called follows the "old" way of thinking,while his brother(yes,you guessed it,brother B)uses
GEL and Edelman's theory.The results of the study find Brother B with almost a one million dollar
advantage over Brother A.    

So,if you believe in this new way of thinking,and are ready to follow the model(in other words,
REALLY, put that extra money to work for you),then I believe an interest only cash advance or GEL's power
option cash advance is the way to go,but be careful. Good use of bridge financing can be great for some people. The key is to comprehend bridge financing .