Are You Drowning In Debt?
I just read a great article about ways to get out of debt. I love Dave Ramsey and he's got a great plan to get you on track with your finances.
In my experience there are 4 categories of buyers:
- Buyers that have no debt and pay cash for a home
- Buyers that have little or no debt, have a sizable downpayment and take out a manageable mortgage for a home
- Buyers that have the maximum debt allowed, barely have enough for a down payment and take out a mortgage for a home
- Buyers that think they can take out a loan for a home but soon realize their debt ratio is too high for a mortgage
If you fall into any of the mortgage/debt categories, you should have a strategy to free yourself from debt. The less debt you have, the more money you can apply towards a new home.
Are you looking for ideas on how to get your credit in shape? Need a plan to tame your debt so that you can buy a new home? Talk to one of my lending professionals today. They will analyze your situation, get you on track, and together we will get you into a new home in no time.