Question: Is taking out a second mortgage ever a good idea?
 Amie: Generally, no. Especially if you already own your home. Taking out additional debt on your home to pay off other debts, do improvements on the house, or (worse) buy something that you don't need is not a good idea. And if you need a second mortgage to buy the home in the first place, you would be better off looking for a less expensive house.

Question: If someone is starting a new business, should they apply for a business loan?
 Amie: No. I really admire entrepreneurs. I wish I had that gift. If you really want to build wealth in America, owning your own business is a great path to take. However, the most successful businesses are run without debt. If you have to borrow someone else's money to get your idea off the ground, wait. 

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