| It's no big deal. I'm a cash and carry kind of guy. My | | | | area of Huntington Beach and it's only going to cost |
| dad always taught me that if I don't have the money | | | | $400,000. That would surely be an excellent deal. If |
| to pay for something, then I shouldn't be buying it. That | | | | your credit is good and you qualify for a 30 year fixed |
| is all fine and good, but there may be an exception to | | | | note at 5.99%, then your payment is only $2395 per |
| that rule. And yes, it's wise not to buy things you can't | | | | month. If you happen to fall into the "my credit stinks. |
| afford or don't have the money to buy. There are | | | | Who cares?" category, then the answer to that |
| some things that you may not need or want now, that | | | | question is; you care. Generally, folks that have poor |
| can only be bought with credit (for most of us | | | | credit pay two to five percent more per annum than |
| anyway). One of those items is a house. Most people | | | | those with good credit. That means that your payment |
| simply can't pay cash for such a large investment. So, | | | | on this unbelievable deal will be anywhere from |
| you say "my credit stinks. Who cares?' The answer is; | | | | $2658-$3806 (from 6.99% to 10.99%). That range is |
| the institutions that lend people money to buy homes, | | | | anywhere from $263.00 to $1,411.00 more than the |
| cars, business equipment or any other larger ticket | | | | person with good credit. That's a huge difference. |
| items. They care. Sure, there might be loan and finance | | | | Think about it. Over just five years that's a difference |
| programs that help those with challenged credit buy | | | | of $15,780 if your credit is just marginally damaged OR |
| homes and cars and luxury items, but don't short | | | | a difference of $84,660 if your credit is very damaged |
| change yourself and pay more than you have to. | | | | and you only qualify for something in the 10.99% range. |
| Let's say you live in California and unexpectedly you | | | | It's important to think ahead. Those that do end up |
| find a deal on a home that had been taken back by | | | | seeing unbelievable opportunities come their way. Not |
| the bank from the previous owner. A foreclosure. That | | | | only is it important to recognize a great opportunity, but |
| term is all too common when referring to the California | | | | it's also important to be able to seize that excellent |
| housing market in 2008. Maybe you weren't looking, but | | | | opportunity. Don't let poor credit get in your way. If |
| let us just say that this is a smoking deal. We've | | | | your credit needs some t.l.c., do it now rather than |
| already seen a decline in home prices and this one is | | | | waiting until the moment you actually have a need for |
| priced way below all the other ones in the area. | | | | an extension of credit. |
| You've got to jump on it. It's a home in the down town | | | | |