Wednesday, September 29th, 2021
On today’s show, Debbie brings in Team Members, Larry Ehrlich aka “The Mortgage Dad,” Cindy Russon, and Heather Barkley-Kilpatrick, to talk about the infamous question, should buy now or wait?
Larry points out that the rates are for sure going to rise according to the Feds. He also suggests that people should investigate buying if they are renting at this time.
Debbie then explains what “tapering” means in the world of finance while Larry explains inflation in relation to rates.
Heather jumps in and discusses her calculations with lower interest rates vs. higher interest rates and what that means to your bottom-line sales price.
Cindy and Heather talk about the housing crisis and how there is a housing shortage, especially in California. Debbie doesn’t think people should “wait” to buy. If there is an opportunity to get a home, “do it” she says, especially because of the U.S. being 5 million homes short.
The team discusses the topics of forbearances, foreclosures, and evictions. Debbie gives highly educational viewpoints and scenarios on what could happen to homeowners if they try to refinance down the road when interest rates are higher, especially if they were in forbearance.
With her real-estate background, Heather focuses on the details of how forbearance can force homeowners into selling or foreclosing. She goes on to say that a short sale is always better than a foreclosure.
Larry and the team say that potential clients should always reach out to Mortgage Mom Radio if they are feeling bleak about their financial situation. They are here to help you no matter what your situation might be.
The whole team agrees that at this point in time, the best investment anyone can make would be in rentals. Debbie says that even if property values drop, rent will not. If anything, rent will increase says Heather.
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Debbie Marcoux is licensed by the Department of Financial Institutions under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, ID – MLO 2080237926, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926