Is Your Familys Life And Securlty At The Mercy Of Your Landlord

Dated: 02/24/2015

Views: 855

It's no secret that rents are on the rise.  Just today I was made aware of a rental payment that was going from $1800. per month to $2400. per month in ONE SINGLE increase!  That is almost 34%!  Was this in a really hot area of Seattle?  No, this was in Edmonds.   The Seattle Times in January cited one complex in West Seattle going up 145%!  That's just plain wrong!!!  


It makes no sense to me why renters allow themselves to live their lives at the mercy of their landlord.  Of course, there is the person who used to own their own home and hit on tough times, resulting in a bankruptcy, short sale or foreclosure.  A lot of really bad things happened to a lot of really good people.    Many don't realize that it may be possible to buy another home in as little as a year after a short sale, depending on the circumstances.  Many loans allow purchasing 2 years after a bankruptcy.  If you'd like more information about these programs, please let me know, or click on the lender link and request information.   Interest rates are at an all time low.  Lock in that low rate for the life of your loan.  Often, people can actually buy a home with a lower monthly payment than what they are paying in rent.  Think about it - 5 years of renting at $1200 per month is $72,000 that you paid against your landlord's mortgage.  How does he thank you?  Raises the rent, of course.  In reality, at todays interest rates, that same $1200. would be the monthly payment on a $240,000* mortage.


Then I hear, "I got burned once, never again."  I look at it this way, you have to write a check the 1st of the month, every month, regardless.  Would you rather make out that check to a landlord and help them build wealth or would you like to make that check out to your own mortgage company and build equity in your own home?  Our own home was greatly underwater, but what difference did it make?  Had we bailed, we still would have to have written out that check the 1st of each month, only to a landlord.  We kept writing the check, we had the security of our own home to live in and now we have some equity back.  Not to mention the interest deduction at tax time was an added bonus.  At todays current rental rates we could rent our, once underwater, house for a $200 per month positive cash flow.


If you are a 1st time home buyer, a back to the market buyer, or a move up buyer (yes they are back!) let us help.  Our team is here to give you all of the up to date information and then let you make your own decision about what makes the most sense for your individual situation.  You will never feel pressured by us!  


*estimated payment is principal and interest only. Taxes, insurance and mortgage insurance if required are not calculated in the this figure.


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Is Your Familys Life And Securlty At The Mercy Of Your Landlord

It's no secret that rents are on the rise.  Just today I was made aware of a rental payment that was going from $1800. per month to $2400. per month in ONE SINGLE increase!  That is

Read More