Homebuyer's Realization: Must Get Back to Basics - American Dream of Owning a Home is Not Dead
Buying a home in today's market requires buyers to get back to their roots. This requires buyers to become more knowledgeable about the loan programs available to them. It is no longer a world in which people can rely on others to provide the right product for them. By relying on others, we place our finances in their hands. Buying a home is by no means impossible, but does require that everyone involved do their homework.
Hurst, TX, October 10, 2007 --(PR.com)-- A great many of today’s homebuyers do not realize that it was not that long ago when we saw a similar housing market. Mind you, in the late eighties when the Savings & Loans were falling apart, foreclosures were excessively rampant and interest rates were well up into the double digits. We survived then and we will survive today.
To date, we have had about 120 major mortgage banks go under and that is just in the last 12 months. Foreclosures are increasing while many of the programs that were used to create this situation have now disappeared.
So, what does this mean to the new homeowner? It means going back to basics.
First of all, anyone looking to purchase a home must take the time to educate themselves. Homeownership is a big step and should not be jumped into lightly.
Education is the key to success. This will allow potential homeowners to learn about the different loan programs available to them. It is no longer a time when we can rely on others to do for us. We must do for ourselves.
Michael Brewster bought his first home at the end of the last great housing fallout. Even though the time has changed, the story remains the same for a great many people.
He had spent quite some time working with a realtor and her suggested mortgage broker. “Needless to say, I was heartbroken when they told me I could only afford a worn out, old, dilapidated condo that had huge monthly association fees” said Michael. The problem was that he wanted a house for his family.
Even though he was extremely upset, he continued to look until he stumbled into a new home project where the builder was willing to work to get him into one of their homes. They were very knowledgeable about the loan programs available and were willing to make it work.
In the end, he was able to work with people that were willing to help him. Michael said “I put down a $500 initial deposit and received $1000 back at the closing and that was after a great many upgrades.”
The realtor and mortgage broker were only willing to help him with purchasing a condo up to $135,000. The builder however, helped him own a brand new home of $173,000. That is quite a significant difference.
These loan programs are typically government backed and available for just about anyone. The problem is that many people think all bankers, mortgage brokers and lenders are the same. There is nothing further from the truth.
Michael Brewster is a national real estate and business investor, speaker, trainer and mentor. Michael in affiliation with Get Free With RE, Inc. provides training for those individuals that are looking to purchase their own home or become a full time real estate investor. More information can be found on http://www.GetFreeWithRE.com or the blog at http://gfwre.blogspot.com.
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If you would like more information about this topic, or to schedule an interview with Michael Brewster, please call Kelley Scott at 817-431-0186 or email Kelley at Kelley@getfreewithre.com.
To date, we have had about 120 major mortgage banks go under and that is just in the last 12 months. Foreclosures are increasing while many of the programs that were used to create this situation have now disappeared.
So, what does this mean to the new homeowner? It means going back to basics.
First of all, anyone looking to purchase a home must take the time to educate themselves. Homeownership is a big step and should not be jumped into lightly.
Education is the key to success. This will allow potential homeowners to learn about the different loan programs available to them. It is no longer a time when we can rely on others to do for us. We must do for ourselves.
Michael Brewster bought his first home at the end of the last great housing fallout. Even though the time has changed, the story remains the same for a great many people.
He had spent quite some time working with a realtor and her suggested mortgage broker. “Needless to say, I was heartbroken when they told me I could only afford a worn out, old, dilapidated condo that had huge monthly association fees” said Michael. The problem was that he wanted a house for his family.
Even though he was extremely upset, he continued to look until he stumbled into a new home project where the builder was willing to work to get him into one of their homes. They were very knowledgeable about the loan programs available and were willing to make it work.
In the end, he was able to work with people that were willing to help him. Michael said “I put down a $500 initial deposit and received $1000 back at the closing and that was after a great many upgrades.”
The realtor and mortgage broker were only willing to help him with purchasing a condo up to $135,000. The builder however, helped him own a brand new home of $173,000. That is quite a significant difference.
These loan programs are typically government backed and available for just about anyone. The problem is that many people think all bankers, mortgage brokers and lenders are the same. There is nothing further from the truth.
Michael Brewster is a national real estate and business investor, speaker, trainer and mentor. Michael in affiliation with Get Free With RE, Inc. provides training for those individuals that are looking to purchase their own home or become a full time real estate investor. More information can be found on http://www.GetFreeWithRE.com or the blog at http://gfwre.blogspot.com.
###
If you would like more information about this topic, or to schedule an interview with Michael Brewster, please call Kelley Scott at 817-431-0186 or email Kelley at Kelley@getfreewithre.com.
Contact
Get Free With RE, Inc.
Kelley Scott
817-431-0186
www.getfreewithre.com
Michael Brewster is available for speaking engagements and interviews.
Kelley Scott
817-431-0186
www.getfreewithre.com
Michael Brewster is available for speaking engagements and interviews.
Contact
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