The Beat Goes On!

Dated: May 2 2023

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Like the 60's song, The Beat Goes On.

So as of May 1st, some mortgage providers will be working to stimulate more Buyer activity by giving Buyers with low credit scores help to get mortgage approvals and lower interest rates while Buyers with great scores will have to pay to compensate. WHAT???

Number 1. In one breath we say we have low inventory and Buyer demand exceeds supply creating multiple offers on most properties. In the next we are stimulating more Buyer activity. WHAT???

Number 2. Lets do the math. Many Consumers with low credit scores have that scar because of difficulty paying bills and paying on time. So is the Mortgage industry trying to create another 2008 and another glut of future foreclosures?

Seems as though the Feds should be working to stimulate more home sales.

I guess it still doesn't pay to do all the right things including keeping your credit score high.

Sounds like the car insurance industry that punishes good drivers for the sins of bad drivers!

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Gary Wojcik

My business is all about building relationships. My knowledge, education and expertise in the real estate market is extremely valuable helping you achieve your goals. For quality service and personal ....

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