So many people are losing their homes due to foreclosures on their homes, but there are still many first time homebuyers out there trying to be approved for financing so they can start growing their family, and put down roots. The biggest problem is being approved for a home loan today. Those ninety five percent home mortgages that home builders depended on for the last decade are now gone, and financing is dealt with in a much stricter format. Many new married couples have a huge debt or financial burden before they even get started from college loans, and credit card debt that they ran up while in school.
Even though they have great paying jobs, and pay their bills on time, except for those pesky student loans, and a couple of credit card that have huge monthly minimums attached. Their credit is already destroyed before they seemingly got started on their life
Tags: Mortgage
Great blog about debit. The average American is one paycheck from being broke. For most it is important to keep up with the Jone’s. My Grandparents grew up during the Depression and were very frugle with their money. As a Real Estate Professional in the Central Texas area I have seen too many people either want or need to sell their home and can’t because of being up side down on their mortgage.