My New Blog

There are 3 reasons why money-smart homebuyers are buying their dream homes today!

(1)  LOWER PAYMENTS ... Interest rates are at an all-time low, making it possible to get more home at a lower monthly payment.  A 1% drop in interest rates affords you 10% more home for the same monthly payment.

(2)  BETTER SELECTION ... There are several great choices in the sought after locations in our area.  With today's inventory you can find the right home for you.  There's no need to compromise in what you want.

(3)  FINANCIAL SECURITY ... Through time, real estate has been a consistent performer when it comes to a long-term investment plan.  In fact, historically, Americans have more of ther personal wealth in their homes than any other investment option.

The economy does have it's ups and downs, but nothing stays the same forever ..... NOW is a good time to buy!

If we can help with any real estate needs or questions you may have, just give us a call at  570.412.9821. 

     I heard something today that I find VERY disturbing (to say the least ).

You may or may not be aware of the governments 'mortgage assistance program'   designed to help homeowners that are making their payments on time but are struggling and on the verge of default.

Some homeowners who have signed up for this program are getting a BIG, nasty surprise....LOWER CREDIT SCORES!! 

The Obama administration 'loan modification program' can lower their credit score as much as 100 points.  This penalty can have a very strong effect as it can  make it harder to get a loan, be a problem when applying for a new job and even trying to get insurance, as insurance companies also run credit checks. 

To enroll in the Obama administrations  "Making Home Affordable" program, borrowers go into a trial period, and it's in this trial period that some homeowners have found out that their credit score lowered because their mortgage company notifies the 3 major credit bureaus, Experian, Equifax and TransUnion.  The credit rating industry defends the practice, explaining that people who sign up for the program would not be doing so if they did not have money troubles in the first place and other lenders need to be aware of that.   I can understand this defense, what I CANNOT understand is why this issue is not brought to the forefront and explained in depth to the homeowner so they can make an informed decision as to whether they want to proceed with entering in to the program or not.  At least they would be aware that this penalty exists and would have a negative outcome. That would be protecting their interests.

This credit score issue is an unexpected consequence of the program.  A program which seems to be plagued by problems and disappointment since it started last year.  About 170,000 homeowners have completed the process with hundreds of thousands still in limbo.

It greatly disturbs me that with SO much emphasis and laws on DISCLOSURE  in our society today, one more time the government is exempt from abiding by rules.............and....that's OK!  (??)   Maybe jumping in to programs TOO FAST without stepping back to think of and discuss all the negatives and pitfalls of the program is not a good idea.

         SOMETHING TO THINK ABOUT:

"Life is an opportunity, benefit from it.  Life is a beauty, admire it.  Life is a dream, realize it.  Life is a challenge, meet it.  Life is a duty, complete it.  Life is a game, play it.  Life is a promise, fulfill it.  Life is sorrow, overcome it.  Life is a song, sing it.  Life is a struggle, accept it.  Life is a tragedy, confront it.  Life is an adventure, dare it.  Life is luck, make it.  Life is life, fight for it!" 

 ...Words of Mother Teresa

That about says it all!  Speaks volumes. 

 Have a great day!