At one point you were a happy homeowner, comfortable with the knowledge that you and your family had a cozy, secure home in a friendly neighborhood; a place where memories were made and security was assured. Then, the unthinkable happened. The economy went into a tailspin and you found yourself struggling to stay afloat.
One late payment leads to another. Do you purchase groceries to feed your family or is it better to make the car payment? Perhaps hours at work were slowly being cut or maybe you even found yourself downsized. Medical bills, student loans, monthly utilities—literally overnight—increased while your bank account rapidly decreased. Your heart raced when the phone would ring, and it got to the point where you even dreaded the long walk to the mailbox.
How could this happen? You were always a responsible citizen, yet, for a multitude of reasons you see no other clear-cut, reasonable way out of this financial mess. Left with no choice, you found yourself forced into accepting the worst-case scenario. Bankruptcy.
You never intended to find yourself filing for bankruptcy protection, nor did you ever imagine that you would be forced to leave your home. Downsizing to a smaller rental or even moving back in with parents, family or friends was definitely not in the game plan, especially at this stage in your life. Is it possible to find yourself once again living in a beautiful home of your own? Can you put the past behind you and move forward, wiser, smarter and more realistic in your worldview than before?
The answer to all of the above is a resounding YES, and it just may be easier than you think.
Are You A Boomerang Buyer?
You’ve experienced the feelings of regret associated with bankruptcy and damaged credit. If you ever get the opportunity to once again purchase a home you know you’re going to do everything possible to never find yourself in that position again. You’re not the only one that believes a well-deserved second chance should be granted.
Based on the lessons learned in the past few years, select lenders also feel you’re ready for another opportunity at experiencing the American Dream of homeownership, even creating an endearing name for people just like you—Boomerang Buyers. In fact, many homebuilders, real estate agents and, yes, mortgage companies appreciate that you’ve experienced those dark periods of financial hardship, arriving at the other side a much wiser borrower. You’re now more market savvy and realistic regarding how much you can really afford when it comes to owning a home. You have a firmer grasp on interest rates, the importance of energy efficient homes and yes, even the economy.
More importantly, you realize the importance of improving your credit score, making wise decisions when it comes to budgeting funds and paying down debt before it becomes unmanageable. No, you won’t be involved in accumulating unnecessary goods and products just to “keep up with the Jones’”. You’re now an educated borrower who has taken their lumps and is much better for it, and that is very attractive to lenders.
Here at Coldwell Banker Innovations we understand the effort and hard work it has taken you to get back on the path to financial recovery. Even if your credit score isn’t currently where you want it to be, we will still work with you to help you find that perfect home. Even with a less than desirable FICO score, you may still be eligible to receive competitive interest rates from these select lenders.
Take the first step—call us at 301.745.1500. We will introduce you to a variety of our talented real estate professionals who make it their mission to help you once again become a homeowner. We can’t do it without you! Contact us today and let’s start the process once again of getting you back into a home you can truly call your own.