Taking a few days to reflect on the unprecedented relief act of our government, I find that most Americans are not sure what exactly happened. While we are being told that our government has a plan to make it all better, lets accept that many of us are experiencing a sensation of financial vertigo. I would compare it to putting your car in drive, hitting the gas pedal anticipating that the car will move forward. Instead we find that the car suddenly moves backwards, and when we go to look in the mirror to get our sense of direction, the mirrors are missing. It is safe to say that "Joe 6 pack" and "his soccer Mom wife" are not alone in their confusion as global financial markets are now in complete chaos. Given the lessons of history regarding financial upheaval from the dot com bubble bursting in the 90's, the savings and loan failures of the 80's, and yes the great depression, we would have felt that we would have had safeguards in place to avoid the current economic disaster. The reality is that be it of ignorance or arrogance, America is once again digging out of an avoidable mess, and the average family will be leading the way to pay for it.
We are being told that the "is no money available to lend". While this may be true for business lines of credit, and personal credit lines being slashed, there is money for home buyers. Many people, including this author, purchased a home in the last 5 years and find that their home may not be worth what seemed like a great price to pay at the time. We are asked to ride it out until things get better. With no definitive timeline, many are left to wonder if they have the means, the will, and the determination to see that day. Speaking only for myself, I will continue to work, write, and fight in the face of all of this turmoil, until we arrive at that "better day".
For those that do not own their own home, this is a great moment of opportunity. Rates are low, and an FHA loan requires only a 3.5% down payment.
You can receive a gift from your family for the down payment, and the seller can help with the closing costs.
Call me today to see if you or a friend to qualify to purchase a home.
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