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Paul Yamilkoski

Not Just the Best Rates, but your Mortgage the Best Way

Boy Have Things Changed!

I spend a little time every day reading about what is happening in the world. Every day I see articles about how we need to change the financing to make it easier for people with less than good credit to get financing. I see posts about how credit is unfair. I see posts about how everything is the government’s fault, or banks fault or someone else’s fault.

Today I read a post that made me once again think about how things change, and reflect on whether or not those changes are a good thing.

The post I read was from a mortgage blog discussing whether you should save for a down payment or pay off debts first. Nothing wrong with that discussion and the piece had some good suggestions.

What really got me thinking was discussion on current options for financing. The writer noted that 20% down is a thing of the past and noted several loan options that are available: USDA – no down payment required; VA – no down payment required; FHA 3.5% down payment required; Fannie Mae HomeReady – down payment required as low as 3% for credit worthy, low to moderate income borrowers; 1stHome Illinois – offers $7,500 in down payment and/or closing cost assistance for first-time homebuyers or someone who haas not owned a home in the last three years; @HomeIllinois Mortgage – allows first-time and repeat homebuyers to buy a home with as little as $100 out of pocket.

These are the things the writer listed, and I know from talking to a number of lenders that there are many other similar products and programs out there.

What strikes me, is that I remember when I was a kid, that none of these things existed.

In fact, I remember when my grandparents moved from New York to Iowa, to live next to my family, the bank required 40% down – no assistance with down payment or closing costs, and my grandparents didn’t have bad credit.

I remember when my parents refinanced our small farm from a 14% interest rate to 11% and were literally jumping for joy.

Can you imagine paying 14% interest on a farm? Keep in mind that it wasn’t just the land. We had farm equipment to buy and buildings to maintain. We had seed, pesticides, herbicides, and fuel to buy. We had livestock to purchase, feed and care for. We had to till the ground and cultivate the crops. All of this had to be done long before there was any hope of a income from the efforts. My parents also remodeled the small two bedroom farmhouse to accommodate our family of five. They did this while raising three growing boys that were active in everything under the sun, and ate like there would not be food for the next month.images

In the context of what so many people think is too much to try and do today, I marvel at what my parents accomplished, and I admire them so much.

So what changed?

It seems to me one of the first things that changed is the notion of looking forward and planning ahead more than a couple of months or years. You have to really plan ahead how you are going to make things work and how you are going to pay for them, when you live on a farm.

It seems to me that the perception of what it is to be fiscally responsible has changed dramatically over time.

It seems to me that the concept of sacrifice and doing what was necessary to get the job done has changed. Both my parents worked sixty hours a week or more at their jobs. My father also was in the active army reserve as an instructor and had been in the army reserve ever since returning from Vietnam. Both of my parents worked the farm and my brothers and I were helping from a very young age. Heck, we were driving tractors and trucks around the farm and tilling the ground by the time we were 12 years old.

It seems to me that the easier we make things, the more we hear complaints about how unfair and difficult things are. Just look at the plethora of options, listed above, that are available for financing a new home today. Yet with interest rates under four percent and all those options that never existed before, all we hear about is how hard things are for buyers etc.

It seems to me that there has been a growing perception that we should have today what took those before us years or decades to achieve and acquire. Worse yet, there are many that think that somehow it is their right to have such things and they are somehow owed them. (But that is a whole different discussion).

Things have really changed.

When I think about these things, as a credit restoration professional, it is not hard to understand why so many people have bad credit. It is a direct result of the changes in the way we as a people think over time.

It is also easy to understand why helping people with their credit can be so challenging. Much of credit restoration is about changing the way people think and act, so they can achieve different results. And the reality is that most people don’t really want to change anything about themselves, just the things they have to deal with. That is not new though. We all are resistant to change.

Change is inevitable. We can’t avoid it. We can, however, direct the change to be a positive one.

It’s with that in mind that we at Heartland Credit Restoration provide our restoration clients, if they need or desire it, with budget planning as well as a credit plan. A little forward thinking and planning can go a long way toward making dreams a reality.

Things have really changed. But one thing that has not changed is the willingness of some people to help others.

If you, or someone you know, could use a little credit help and want to make a change , a reputable credit restoration company like Heartland Credit Restoration is a great place to start. You will reach your credit goals much faster and safer with the help of a professional. So if you want to accomplish qualifying for that new home within a year, then get the help.

Credit and change may not be fun or easy, but it will feel much easier with good help, and you will be so glad you did. There is a great feeling when you have a lender telling you that you qualify to get that home of your dreams.

Call me for a free consultation to see how we might be able to help. 319-533-5236.

If you are a lender or realtor that has a client you might have to turn away due to credit problems, then let me see if Heartland Credit Restoration can help change that client into a approved client. You should never have to say “NO” to a client. We can help change those into a “YES”.

Call me for a free consultation. 319-533-5236.

I’m looking forward to helping you. I also welcome your thoughts and comments. So do me a favor and share this with your contacts on social media and let me know what you think.

In the mean-time, I hope you have a wonderfully blessed day!

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