How to Avoid Becoming a Statistic…
6 Tips on How to Stay Out of Trouble

Often the only thing that is predictable about life is that it is going to be unpredictable. Certainly no one would set out to intentionally default on their loan, but life can often throw a homeowner a number of twists and turns that could leave them with a very bleak road ahead.

THINGS TO KEEP IN MIND:

1. Contact your accountant, business advisor or whoever knows your financial history for their input on what you could comfortably afford.

2. After obtaining this information, contact several lenders for rates.

3. Get the lender’s offer, terms and conditions in writing and bring that information to a neutral experienced person you trust for review.

4. Calculate for, in addition to your loan payments, additional expenses for decorating, on-going repairs and maintenance.

5. Lastly, ask yourself this question, “Can I comfortably afford to carry this home for at least 5 years?” The market is ever-changing and there is no guarantee it will keep going up, so do not count on living off of your home.

6. Consider your options should something serious alter your financial situation BEFORE committing to a purchase. Plan honestly for a rainy day.