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It is not unusual for first-time buyers to be free of debt. They have been saving for their first home for many months or even years. But after they move into their new home, the new homeowners are often deluged with pre-approved credit card applications from banks and stores offering credit lines. Before they realize what is happening, they can be overwhelmed with debt.
The consumer credit agencies know that mortgage companies do thorough checks before approving a loan, and those who have passed through that process are considered good credit risks. They also know that new homeowners often need to make major purchases of furniture and appliances at a time when they have depleted most of their savings accounts. After years of disciplined savings, new owners may be faced with a tremendous temptation to just say "charge it" for the things they need.
If you have just purchased a home, be aware--and wary--when those credit card applications start pouring in!
Frances Hicks, SFR, e-PRO REALTOR Realty ONE Group 23811 Aliso Creek Rd, Suite 181 Laguna Niguel, CA 92677 Cell: 949-456-9777 Email: FrancesHicksREALTOR@gmail.com
e-PRO REALTOR, SFR Dedicated to providing you professional service, whether you are buying or selling. Solutions oriented, can always find a way to get the right results. Short Sale Specialist. Let the power of teamwork get you the best price in the shortest amount of time. Call now...you'll be glad you did!
DRE Lic. 01348211
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Frances Hicks Best Image Agent(s) in real estate for
Ladera Ranch, Laguna Niguel and Mission Viejo, California