The US household’s net worth peaked at $64.4 trillion n the spring of 2007. A lot has changed since then for most households. In the first three months of this year the US households’ net worth fell at a 9.9% annual rate to $50.4 trillion. That means that US families lost 22% of their wealth since the spring of 2007.

 Here is a possible silver lining. Households and businesses have realized that reducing and eliminating debt must be a priority for a secure financial future.

 Total private sector debt FELL at a 0.4% annual pace in the first quarter of 2009, the first time that private sector debt has declined since the Feds started keeping records in 1952. US households’ liabilities fell by $114 billion in the quarter. Consumer credit card debt fell at a 3.5% annual rate. That is the largest decline since 1980.

 Unfortunately households saw their assets drop, including $448 billion in real estate and $1 trillion on their mutual funds, equities, and pension reserves. Owners’ equity in real estate dropped to a record low 41.4% of its value. Financial businesses experienced their first debt reduction since 1975 and the largest since 1967. Businesses overall took on less debt in the first quarter, the first decline since 1993.

 United First Financial is the dominating leader in the mortgage acceleration field. This award winning company has been helping households drastically reduce the duration of their mortgages and eliminate debt. United First Financial’s Money Merge Account program has already helped thousands of households eliminate over $355,000,000.00 in mortgage principal alone, beside consumer debt, in the last three years. Reduce your debt rapidly. Learn more about the Money Merge Account.