The Housing Market and Your Credit.
This is a sponsored post:
I know...I know. Everyone is all caught up in the real estate downturn. The once red hot market in Florida has cooled quite a bit. You turn on the news, read the paper or even just talk with your friends...you can't escape it. You are reminded how house prices are sky high.
I was lucky... I bought my condo over 5 years ago and have a great fixed mortgage rate. My credit is very good so the whole process was very easy. The mortgage broker even said "Oooo good! I'm going to love shopping you around." I signed a fixed rate mortgage and chose to pass on the then popular 'ARM' mortgages. I'm not a big 'risk taker' when it comes to my finances and since (back then) you had no idea what the rates would be in 5 years...it just didn't make sense to me. Now with all of the sub-prime mortgage issues out there getting a mortgage is going to be a lot tougher. Especially if your credit isn't that good. But it won't be impossible.
The housing market is going to turn around here in Florida and there are actually some great deals to be found right now..the market isn't dead. You might think that it's going to be impossible to find bad credit personal loans right now (including mortgages). Well there are plenty of websites and companies out there that can help. It just takes some research and determination.
The main issue is going to see what happens with the January 29th vote to allow the portability of the 'Save Our Home' property tax cap. It's right around the corner and will open a lot of doors for people that want to buy a new house. Do you research now and be ready.
I know...I know. Everyone is all caught up in the real estate downturn. The once red hot market in Florida has cooled quite a bit. You turn on the news, read the paper or even just talk with your friends...you can't escape it. You are reminded how house prices are sky high.
I was lucky... I bought my condo over 5 years ago and have a great fixed mortgage rate. My credit is very good so the whole process was very easy. The mortgage broker even said "Oooo good! I'm going to love shopping you around." I signed a fixed rate mortgage and chose to pass on the then popular 'ARM' mortgages. I'm not a big 'risk taker' when it comes to my finances and since (back then) you had no idea what the rates would be in 5 years...it just didn't make sense to me. Now with all of the sub-prime mortgage issues out there getting a mortgage is going to be a lot tougher. Especially if your credit isn't that good. But it won't be impossible.
The housing market is going to turn around here in Florida and there are actually some great deals to be found right now..the market isn't dead. You might think that it's going to be impossible to find bad credit personal loans right now (including mortgages). Well there are plenty of websites and companies out there that can help. It just takes some research and determination.
The main issue is going to see what happens with the January 29th vote to allow the portability of the 'Save Our Home' property tax cap. It's right around the corner and will open a lot of doors for people that want to buy a new house. Do you research now and be ready.
Comments