The new status symbol is the free and clear home!
One way to avoid the threat of foreclosure is to NOT have a mortgage. In many parts of the country this is not feasible for most people. But there are parts of the country where a seller can cash in their equity and buy a home. There are opportunities like that in Central Indiana.
Even if a buyer does need a mortgage, by buying less home and making a larger payment, free and clear can be achieved. Thanks to Richard Weisser for posting about this very timely topic.
Unlike three or four years ago, a lot of homebuyers in the Newnan Georgia area are not look for the “most house they can buy.
Instead of seeking large homes with all the bells and whistles in the most expensive neighborhoods, many buyers are seeking a serviceable home that can be purchased outright for the same amount of money needed for a down payment on a status property!
By eliminating a mortgage, all of the expenses of borrowing money are eliminated. This includes loan fees, mortgage insurance premiums, and of course, interest.
And there are homes in Coweta County that can be purchased for under $50,000.
Owning a home free and clear is the best hedge against inflation and is immune to shifts in direction of the political winds. And it will never face foreclosure!
And that can lead to true financial peace of mind!
All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
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