As many of you know home buying for the first time can be a real challenge, Not only do you have to meet the credit requirements, there is so much you need to know to get started. Things that most Sales people and loan officers don't tell you. If you don't ask the questions you will most likely not get answers. For instance, "What should my credit score be to secure a low interest loan"? "What credit score should look at out of all three buereaus"? Most people do no know there are 3 different Major Credit Bureaus and they do not know how they effect there chances of getting a loan. Trans-Union, Equifax, Experian are the most important words that you will ever say when applying for your first loan. Now keep in mind you will have to be in Debt to gain Debt. What does this mean? It means you will need Credit revolving accounts such as Department Store Cards, (Dillards, Bank Credit Cards, Secured Bank Cards)Etc.
In the todays Economy the Banks who have been bailed out by your tax paying dollar would rather find more important things to do with your money then to loan it back to the American People themselves. For some reason we bought into the idea that the American Dream would a Home, nice Cars, and Kids, with a ideal savings account. Those days are long gone and the scams are very prevalent with company's and Private Realtor s who take advantage of individuals who want to take part in the So-Called American Dream .
Power Players Magazine
Editor and Chief
To BE Continued.
Troy Taylor
(DirtyRice)
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