25% of Americans have a credit score of 599 or lower!

Happy Friday blog fans, or fan. Hope your week was great and you're looking forward to a nice weekend. As you can see from the title of this edition 25% of Americans have credit score of 599 or lower. That's not so good, that means 1 in every 4 aren't doing so hot. That also means there are a lot less people out there to buy homes. Not to mention, we will probably see a bunch for bank owned properties on the market come March and April, which increases the competition for people that want to sell and we have a lot less buyers than we did. What will that do? It will drive home prices down faster than their credit score. If you're saying to yourself, my score is one of those low ones, the good news your not alone and you can do something about it. No matter how hopeless you feel, there is something that can be done. Think about this, you need a 640 score to have what lenders call credit worthiness to buy a home. That doesn't include some other factors you need to qualify. (consult your mortgage professional) These days you need more than a credit score and the ability to fog a mirror to get into a home. You need to start somewhere though! So I say this to all my friends; start getting your ducks in a row, it can be done! It takes time to work on your credit, it takes time to save for a down payment, ect. If you don't start walking you'll never run, and there are people around to help you. All you have to do is ask for it, it's free to ask. Real professionals don't judge and often times have been in your shoes, that's part of what makes them good. Think of all the opportunity there is going to be to buy a home in the next six months, and I'm talking about buying a nice home you can afford. If you're one of those that has a challenged credit situation and says "I'll never be able to buy a home" odds are you won't with that attitude. Let's adjust it! Professionals want to help, you can get there with a little try. There are many laws that protect consumers and many programs still available to aid you in your efforts to get a home. If you have questions or comments, please feel free. I'm always around. Rise Every Day!