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Lender’s Viewpoint: Consumer Confidence

Aug 29, 2011

Consumer Confidence: Courage and Happiness
By Forest Tardibuono

 

Who would have thunk that as a real estate and mortgage Broker, I would ever need to and actually have to write about courage, happiness and the like.

Lack of consumer confidence is all over the various media. It has been stated by numerous sources that it stems from uncertainty about the future. Uncertainty about gas prices, food prices, home prices, the financial markets, health care costs, taxes, unemployment, blah, blah, blah.

Aren’t you sick of it? Well you should be. And you should be especially if it has stopped you from doing something that will contribute to your future prosperity and happiness. The future is coming. It will likely be bright. No matter what it will actually be, it will get bad press. You should not be stopped by it. Of course, if you are out of work, your number 1 priority would be to get work. And there will be obstacles thrown at each of us individually. But that’s how life works.

Here comes the courage part.

I am currently doing a refinance for a very nice couple. They recently voluntarily dismissed a reorganizational bankruptcy (payment plan). Their home is scheduled for sale on the courthouse steps next week. They have a hefty state tax lien, a federal tax lien and an incorrect order for child support. Their home was in the middle of a remodel before they ran out of money to finish it and the permit for finishing it expired. They have lived there for over 14 years. To accomplish the refinance and save his home from being sold on the courthouse steps, this small business owner had to come up with more than $80,000.

It should be done on Tuesday and their home will be saved.

This is truly a demonstration of courage. In spite of all that occurred for this couple, they stuck it out and are going to come out the better for it. They could have taken the $80,000, let the house be foreclosed and gone and rented elsewhere. But this was their home. It was where they were raising their kids. It was where they were happiest and that made it worth jumping through every hoop thrown at them.

It’s funny how the simple decision to save their home increased the necessity level in this business owner to find the work and get the money needed to accomplish their goal of saving the family home. It was just a decision about their future and it put the certainty there.

The moral of the story is that you decide your future. Decide it will be bright and go for it.

Commercial Break: Buy real estate!

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