SE SD | JRosenberger - 3/23/2024 10:32
No, I would not trust that individual or their advice. I presume most prospective home owners know how to hop online and run a basic mortgage calculator to determine if a 10k upfront tax credit will offset the 2x interest rate increase (it wont...)
Surely the average home buyer understands the total interest paid over the life of the loan - more so than the 'whats my payment?' car buyer?
Maybe the average or above average buyer. But the 2008 recession showed us that there's a huge amount of people that don't understand these things. Smart buyers, who do as much homework as they can, should realize if these programs will be beneficial to them or not. Some people I believe are ready to make a move but aren't willing to at that moment and a program comes along that makes it more viable. Some programs are designed to just make something, anything happen. When people aren't moving money around, the economy suffers. The people need to be aware of what they can and can't do. Good education and upbringing is where it starts. |
Financial thought
