“First Time Home Buyer Challenges in 2016”
I worked with 9 different prospective home buyers last week, 6 of which were first time home buyers. I could do the pre-qualification letters for four of them.
The other two will be able to be done in the future. In one case there was a bankruptcy that is 18 months old so we need to wait 6 more months. They did re-establish some credit and the scores will look even better 6 months from now.
The other first time home buyer had no credit, paid cash for everything. We are now working on creating 2 additional lines of alternative credit. He has a cell phone in his name, but nothing else. I have now coached him on what else he needs to do. I also have him setting up a couple of credit cards as well. Sure he is a year away but at least he has a plan.
There are many like these two individuals with all kinds of issues but unless they are coached on their next steps, they do nothing.
Who else do you know that needs my help?
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.