Two Financial Positives for Today's Homeowners
By Jan Green, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
Recently, I posted an article about why we aren't going to see a "bubble" in real estate. Thinking back on this post, I did not include two VERY important Financial Reasons how homeowners are in much better position financially than they were in 2008. During that time right before and during the housing recession, homeowners were oftentimes NOT in good financial positions.In the current financial marketplace, homeowners have a LOT of EQUITY. If a homeowner bought a home prior to 2015, even 2016, they may have a LOT of equity to tap into in case of emergencies. Unlike the upside down market days when home owners owed more on their homes than they were worth, today's home owners are in far better shape.Many have been in their homes long enough to improve their FICO SCORES as well. T...
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