What's the most realistic solution for restoring the finances of American families? It's real estate.
More precisely, education about real estate. There are just too many ghost stories floating around.
Here's the good news: Banks want to lend again. You don't need an 750 credit score. It's even possible to refinance a student loan by buying a home.
Here's the bad news: People are still spooked by the housing horror of 2007. That's when your home's equity - POOF! - disappeared. In the past when your kid got accepted to Harvard but you saved for state college, you tapped into the home's equity to cover the difference because you loved them. But since then, kids turned to student loans for that difference. Most jobs out of college don't cover student loans and leave money leftover for saving for a home. Now what? Get educated!
More good news: Freddy Krueger is not living in your closet. You dont need to put down a 20% down payment. FHA 203K Renovation loans are a huge opportunity for first time home buyers. Most buyers have never even heard of a 203K loan. Every Veteran should know the facts about VA loans available to them.
People, just call a real estate professional or a good mortgage broker. They are the source for the most up to date answers on your local home market and how much money you can actually borrow. The information is free. You'll probably love what you hear. Let us turn the lights and show that there are no monsters under the bed.
Real Estate has been the cornerstone of the American middle class. Homeownership is the most realistic way to restore the middle class, end the nightmares so homeowners can go to sleep without the nightlight.
-Rich Anastasio
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