I came across a post on Craigslist today that read:
"Now Accepting Credit Card For Down Payment and First Month's Rent!"
Seriously? I was appalled when I read that and immediately had to email the person who posted it and give them my two cents. I know that sometimes I react first and then think later but I really feel like these people are doing a disservice to their clients. The reason I love my job is because at the end of the day, I know I helped someone to build their wealth and realize their dream of being a homeowner. If I knew that they had to charge their credit cards to do this, I would almost bet that they would probably sink pretty fast. If they have to charge the downpayment and first month's rent, where will they get the funds to take care of the the big and little fixes that come hand and hand with being a homeowner?
Please don't buy a home until you know you have the funds to cover all of the things that can happen. Leave those credit cards alone and use them when you REALLY need them. I hope this company gets their act together and helps us to clean up this industry rather than being a contributor to the mess.