if you're anything like me, and you've spent any time on social media or FB, you've probably seen some of those motivational pictures like, "my dog ate my newspaper and it ruined my day, but I went down the street, bought a new one and I found that ad so I can go buy that brand new stereo system!" ... or whatever it is you wanted to buy. You know what I'm talking about, right? I want to encourage today about buying a home - especially if you've had a major life event or credit issues in the past. You see, I get phone calls almost on a daily basis from people who say, "I've missed some payments" or "I have this collection account..." Maybe a short-sale, foreclosure, bankruptcy or a divorce wreaked havoc on their credit. They think that because of that, they are disqualified from buying a home again for 7, 10, or even 15 years. People actually have kept that in their mind! I want to tell you right now; it is probably wrong thinking. On short-sales, foreclosures, and bankruptcy ... the waiting period -- depending on the loan program -- could actually be as little as 2-3 years! If you have a collection account that's been open for a long time (or you might not even know about it), simply paying it off or working with that vendor can increase your credit score significantly in a short period of time. We can give you guidance and help you to accomplish this - literally in a matter of days or a week ... rather than you waiting 60-90 days, or even up to a year, for the credit bureaus to pick it up. So all it takes is you taking that initial step. Give me a call at 503.698.5801 and we can go ahead and discuss what your situation is. Maybe you can qualify right now for a home and you don't even realize it! There might just be a few simple steps needed that we can show you to take; when you are done, I'll get your credit report updated, and then you can buy a home! I had clients call me this last fall who had some credit issues to deal with. They took action, and now they are in the process of buying a home. It is very possible, and we are here to help. I've got a video on my website Video Vault (GoNorthwestLoans.com) that talks all about the waiting periods after a major life event (short-sale, bankruptcy, etc.) "Buy a Home With Past Credit Problems". Why should you take action right now? Why should you be more motivated if you are renting to get into home ownership? We all know prices are going up; it's been all over the media. If you look at a home today that costs $300K ... by waiting a year it could cost $310K. A $10,000 increase on a loan amount could raise your payment as much as $50 a month for the same home! Then you've got this thing called interest rates. They are very, very volatile with a lot of governmental and other influencers that determine what rates are. Most people believe rates are going to go up over a period of time. A 1% increase in mortgage rate on a $300K home loan could cost you almost $200/mo. extra on the monthly payment for the same home. If you add price and mortgage rate increases over just a year or two, it could literally cost you several hundred dollars more per month for the same home you could potentially buy today. Plus, you have all the equity appreciation! Wouldn't you rather own a home now? Then a few years from now if it goes up $10K-$20K, that's equity in your pocket. That's net worth in your pocket! You also won't have a landlord to raise rent on you without notice or kick you out because they want to cash in on their equity by selling the home. So even if you've had issues in the past, there are a lot of reasons to give me a call at 503.698.5801 or email me to find out today what you can really qualify for, and plan for homeownership in the future.

• published: 27 Mar 2014
• views: 2