Making A Profit On Bad Credit

By Christopher Zoukis

Anytime there’s a financial crisis is a good time to buy a home or re-finance a home.  Why?  Because nothing has more value than ‘real assets.’  And there isn’t anything more real than owning a home or land.  According to the old adage, God is done making land.  Image courtesy bradydenbleyker.com

At the present time, real estate is as cheap as it has been in thirty or forty years.  Now is a good time to buy a new home or refinance your existing mortgage.  Even if you have bad credit, programs exist to make mortgages affordable.  If you have a job and a monthly income, you can qualify for a mortgage.

Mortgage rates are as low as they have ever been.  Thirty-year fixed-rate mortgages are below 3 percent, and are unlikely to go much lower.  Simultaneously, the cost of houses has dropped 20 to 50 percent, depending on geographical location.  So it’s a win-win situation.  If the economy continues to improve, the price of houses will go up, which means added equity.  If king dollar starts to lose value, lots of investors will move the money they now have in financial investments into houses, commercial real estate, and land.  This movement will support rising real estate values.

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