
I just wanted to share this information with the ActiveRain Community. I was reading an article about the way America has been giving out credit cards freely to people at all class levels. Currently, we have unemployment in double digits and millions of people are being foreclosed on their home. I have never seen an economy like this before in my life. One of the reasons is because America is broke.
The families in the lower income bracket shown above show the highest delinquents on their mortgage payments. Why? These people are over extended with their credit. They are living paycheck to paycheck and cannot experience a major disruption that we are currently experiencing at the present time. Now, they must face foreclosure because they owe more than the house is worth at the present time. We have all learned a major lesson from this housing bubble that bursted. People are starting to save more money and live below their means.
People are very much stressed out with their financial picture. I had a couple in their 60's crying in front of me because they are about to lose everything they had worked for in the last thirty five years. Wow, that was a humble experience for me. Officials have stated that more and more people are seeking public assistance for food, rent and medical since people are out of work.
Here are the TOP 5 REASONS PEOPLE OBTAIN BAD CREDIT:
- FORECLOSURE ON HOME
- DIVORCE
- MEDICAL BILLS
- OVER EXTENDED CREDIT
- JUST STUPID DECISIONS
We are in the middle of the worst financial storm ever experienced by America. All Realtors will be needed to assist people through the following:
- Loan Modifications
- Short Sales
- Foreclosures
- Restore Credit
- Lease Options
- Rent Leases
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.

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