I JUST HAVE TO MAKE A COMMENT ON THIS ARTICLE!

I was reading an article from the online version of the Southeast Missourian www.semissourian.com/front this article was from the associated press regarding home mortgages:  http://asap.ap.org/stories/1653714.s I have been working in the real estate industry for a few years now and I can personally say there were several years where buyers would come to the closing table with little or NO money out of their pocket……as a matter of fact, I have seen buyers receive money at the closing table.  I don’t think those days are entirely gone, however, I do feel it is becoming a rarity.  Once again, so much depends upon a buyer’s credit score. 

John Q. Public is very “under educated” about the impact their credit scores will have on their future ability to purchase high ticket items, such as a home.  This education needs to be started very early on, however, the sad thing is children learn from their parents, being uneducated financially seems to be “genetic”.  It would be great if there were classes on the high school level to teach young people how to manage money and also the good & bad aspects of having credit cards….”teachers-make sure the students are AWAKE during these classes—-it will have a high impact into their adulthood”.

The other day I was driving a young man around in my vehicle and showing him houses….I do not work with people unless I know they have the ability to obtain a loan.  This young many simply blows me away……he is so very responsible, a real credit to his upbringing.  I don’t think he is much more than in his possible early 20’s and he has the ability to buy a nice home.  He did not “come from money” but rather he has been sensible and responsible.  Somewhere along the line he figured out he better pay his bills on time to keep his credit scores up.

At the same time……I realize many individuals go through difficult times in their lives and are not always able to make monthly payments, sometimes bankruptcy occurs….it happens and I have no “stones to throw” at them.  Pick yourself up and start over again…….it can be done……if you learn from the experience you will then be a better person.

Any thoughts or comments?

Debbie

This entry was posted on August 15, 2007 at 7:37 am and is filed under Homes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.