case study- single professionals- managing debt

Kathy, age 44, is a radiologist in Taos who purchased ahome in 2006 prior to the mortgage crises.Her home was in need of repairs and obtained a second mortgage and thirdmortgage, one was for a new roof and the other was to upgrade the electrical.In addition she had to borrow from herretirement plan in order to make other renovations.She also has credit card debt, student loansand a car loan.The burden of debt isoverwhelming especially since she estimates that she purchased her home at thetop of the market and the home value is less than the total outstandingmortgage debt.Her salary is $67,000per year and that does not include the rent she receives from herroommate.Kathy is a hard worker and hasworked extra hours to cover her debt.She does some travel to visit her family in another state.She also has been involved in business ventures.She is savvy and knows that she needs to dealwith her financial issues.She doesmaintain a 403(b) fund and contributes to receive the maximum matching employercontribution.Her cash flow isrestricted because of the amount of debt she carries.

Step 1: What is important to Kathy?

Step 2: Financial Diagnostics-Wealth and Cash Flow

Step 3: Goals Based Recommendation

Step 4: Implementation and Execution

RESULTS...............................................................