Getting to the "Moment of Truth" with people in life or in real estate is always an interesting crossroads. It is where the rubber meets the road. All the evidence is IN and it is time to pick a path.
With respect in this case with BUYERS it comes to QUALIFYING to go forward with purchasing a home. OR NOT. You can casually look at a few homes YOU THINK you qualify for but until you actually run all the numbers, interest rates, number of years on the mortgage, income, debt, alimony payments in some states? child support from that ex? Oh, a judgment in the past or foreclosure or bankruptcy. REALITY is tough to look at and you want to play HEAR NO EVIL.
There are answers however.
Just cause you hit the fork in the road, THE MOMENT OF TRUTH is squarely in your lap, does NOT mean you can't some day get a house. There is renting, lease to own programs of all sorts, credit repair, even a systematic plan to save more for a down payment. What about that inheritance influx of cash you will receive in the next six months?
Clients need to sit down with financial advisors, REALTORS, and loan officers and go through the options. A moment of truth is a CLEANSING in real estate and in life and helps you MOVE FORWARD with ALL you finally know. Fear not, as I said in an earlier blog post, the SKY IS NOT FALLING. Just get your hands uncupped off your ears. You don't need ear muffs. You are inside the house!!
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