Change Repeats Itself
So here we are again, not 15 years past the last wave of consumer out cry over regulatory misuse of rules and regulations of the banking industry. Not to mention all the intermediaries that are a part of the challenge in receiving competent services. Even REALTORS, appraisers, home inspector/termite person, even the legal and title professional surly should be thrown into the scolding pot!
Not a pretty picture!
Did some one forget the 1995 national outcry for increased home ownership and the National Home ownership Strategy: Partners in the American Dream report issued by HUD. with contributions of how to help increase home ownership coming from every advocate, industry corner and benefactor of for-profit and non-profit alike nudging on the process to realize more homeowners? Oh! I misinterpreted the relationships, only when things are going well, and then every one holds a hot iron to the feet of their fellow…?
Wait a minute, if I tell you I have a bridge to sell you…and you know where I’m going with that lead in.
‘Consumers be ware’, has common sense been removed from the annals of consumerism. But the truth of the matter is that the legislators are in many ways made up of ‘Captains of Industry’. Remember a group called Unions, whose aim it was and remains to protect the worker? Well that same mission was established by our legislative body for home ownership and lending by the respective committees to protect the consumer. The only difference is when things go wrong for the individual applicant you need a covey of legal professionals to interpret the law, translate the law and then make up the best story
in order for you to win. ENOUGH!
Let’s try this again.
First. You earn the money and you’re the one spending it. You’re an educated consumer and even if you may not be able to balance the cheque book (that’s how I like to spell it) you can add, subtract, multiply and divide, YES! So when you see the writing on the wall and it does not make sense, and when you see the service provider (sales person) speaking out of both sides of their mouth, and you don’t see eye to eye with your significant other, then you should decide together not to go forward with what is/has been presented, YES!
Now, I know your families want you to have the best home in the village, and you feel that all those long hours at work and your dedication to those creatures who keep pulling at your heart strings, (your children) must have a safe abode in which to live in (we’ll come back to this topic another time). And not to minimize the image you must maintain when you’re looking for the castle in the sky as you meet with REALTOR and associates…all well and good, YES!
So why do you have that knot in your stomach every time the issue of home financing comes up?
Simple, you do not have your ducks in line (in a row)! You’re up the river without a paddle! You’re being sold the Brooklyn bridge, (no offence to Brooklyn, does anyone apologize when they use this term – very derogatory towards Brooklyn folk?) So my next set of Blogs will address the real deal in human emotions when it comes to buying/selling/financing that castle in the sky. I’ll provide the true buying power of today’s families (scare tactics in hand). Real answers, to these real issues, hopefully just in Time!
Bottom line the consumer must want to afford their life style and not be consumed by it expecting regulatory oversight to make them whole each and every time. I just had to get this off my chest! (Honey, I wasn’t being derogatory towards women, honestly!)
Thank you for reading this article.
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Be seeing you!
Ronald M. Allen