Not many. Most of our clients are panicking, running to ATMs to withdraw savings and hiding the cash under their mattresses. With Jeff Bezos advising us not to purchase that big-screen TV, more and more of us adapt by taking on conservative investment strategies and quietly waiting for the dust to settle.
Home prices have fallen dramatically but is it helping your affordability? Dealing with a conventional bank is challenging and stressful. They ask for unreasonable documentation, take weeks to respond and then decline your deal based on minor inconsistencies in your Equifax report. After an experience like that most clients are discouraged, frustrated and outraged.
Not many know that there are special programs out there for extended ratios and there are some new equity programs. If you have a high net worth or equity in your home you can still qualify for the mortgage even if you don’t show high income.
At times like this, we sometimes forget that every 10 yrs property prices double. In 2008 we experienced an economic meltdown and it felt just like this. At Benson Mortgages we think this is not the end of the world. On the other hand, if Armageddon is coming – run for your life. If not, you might as well load up on some investment properties that will guarantee you can retire in the Bahamas sipping mojitos with extra mint!
Call us to discuss how to capitalize on today’s market and pick up investment properties at discounted prices. We have the right mortgage product for you!
Benson Mortgages Team