“Not the Right Time for Me to Buy”
Hi Joe,
I wanted to let you know that I have decided not to pursue the purchase of the property and wanted to thank you for all of your help along the way. After looking at what my mortgage payment and utilities would cost along with the renovations that I would have to do to make it work, it just is not financially feasible for me at this time. By next year I will have paid down most of my credit card debts. I promise to communicate with you again in the future and will refer anyone that I come in contact with that may need a mortgage.
Sincerely, Karen
Karen made the right decision for now. She will be much more comfortable with a home purchase once she has paid down her credit card debts. It is never good when you take all savings and use it for a down payment and closing costs.
I shared with her many times throughout this qualifying process that she needs to keep some dollars in reserve in case there was any kind of emergency or immediate repair that was required.
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