Let me be Frank and Help You Dodge a Bullet

By
Real Estate Broker/Owner with IL Real Estate Specialists

These Happy go Lucky characters are Dodd/ Frank

 

Let me be Frank and Help You Dodge a Bullet. The next thing to be repealed by Donald Trump is Dodd/Frank.

For those of you who do not know Dodd/Frank is a 2,300 page document that was inacted into law when we had the financial crisis. The Dodd/Frank Bill was a reaction to the melt down in the financial markets and the housing market.

If Dodd/Frank is repealed by Donald Trump in an Executive Action then I suspect the following will happen:

  • Banks will come up with new mortgage products and qualify more buyers for loans
  • More buyers will pay more for a mortgage because interest rates will be higher
  • Banks will make more Money
  • Home Prices will be Higher
  • More people will start to find it difficult to make their monthly mortgage payments
  • More Banks Foreclosures 

Let me be Frank and Help You Dodge a Bullet!

  • If you are a First Time Home Buyer please make sure you have a good job, good credit, good downpayment and plan to stay in your new home for at least 15 years.
  • Make sure your mortgage does not exceed 28% of your Gross Monthly Income
  • Make sure your Debt to Income Ration does not exceed 36% of your Gross Montly Income

Call Me Today: 708-309-5334

 

FIRST TIME HOME BUYER FREE PHONE CONSULTATION

 

 

 

Posted by

 

Jack Lewitz Broker Owner

http://www.ilrealestatespecialists.com

 Email Jack Today: jacklewitz@sbcglobal.net

 Call Jack Today ! Cell: 708-309-5334 Office: 847-674-6710

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Home Buying
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Advice for Buyers

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Rainer
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Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

Thanks for sharing to help spread awareness. There are a lot of first time buyers out there that could use this advice.

Feb 02, 2017 08:53 AM #1
Rainmaker
1,295,046
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Good afternoon Jack,

From what I have read it will be revamped with some of the dead wood being removed and supposedly made better.

Make yourself an astonishing day.

Feb 02, 2017 09:13 AM #2
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Rainmaker
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Jack Lewitz

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