What does all of this mean? What is going on?
Well as I have been telling people, you should be more than a little concerned that our government will be bailing everyone out and basically becoming a bank. Not to knock the government, but they can’t balance a checkbook, let alone a loan program for billions of dollars. So what does this mean for you?
Right now, plenty. Stocks are not so hot right now. Unless you have thousands in oil stock, you are kind of sitting on eggshells. Will the market crash? What will happen to my bank? What will happen to my money?
According to persons like Dave Ramsey, you should be hoarding your cash and putting it into a bank right now. Only to draw out that 1.5% interest rate of course. But remember, the FDIC ONLY insures up to $100,000. Many people are withdrawing and are converting their cash to gold. It is currently selling for somewhere around $850 per ounce.
Your credit reports and credit scores have never been more important than now. Several of our customers are hoping to buy homes within the next year. There is no way that they will be able to do this until their credit reports are nearly perfect. Lenders will be requiring a nearly flawless credit application, as well as employment records and a large down payment. How many people right now have this? With gas still hovering around $4.00 per gallon, and homes being foreclosed on in the thousands daily, what can be done?
Without good credit, a chance at a loan, a job, or even college can limit you right now and nearly stop you dead in your tracks. How many people want to let that car repo from 5 years ago prevent them from getting a job in this economy?
Let us take a look at your credit report. If we can help you, we will tell you exactly how and what we can do for you. If we can’t help you, we will flat at tell you, but will give you a chance to explain what can be done to improve in the meantime.
Imperfect credit doesn’t have to be forever. the US will get out of this current slump at some point, and we will bounce back.
