Employees who are doing all right and making good money on the job are motivated to purchase real estate. Spring is a beautiful time to go house shopping, but the purchase is substantial. A house hunter must contemplate a sizable mortgage payment for years to come. The effect on a person’s financial wellness can be enormous. Someone who is not ready will pay for their mistakes for years and even decades.
The Monthly Budget
An individual must adjust their cash flow. The paycheck can be stretched to the breaking point by the monthly mortgage bill. Financing is tricky, and there are consequences for making a poor decision.
The Great Recession of 2008 showed what can happen if a person uses the wrong mortgage financing. Balloon mortgages and other creative options can backfire tragically.
It helps when an individual gets the right advice. A first-time house buyer sincerely appreciates any suggestions about adjusting the family budget or getting the right financing. Countrywide Pre-Paid Legal Services has a financial wellness plan that makes hours buying affordable.
Rolling up the Sleeves
Countrywide has a nationwide network of certified counselors; one is in the community of a client organization. Our counselors help resolve everyday financial challenges, and they do more than just give advice.
Countrywide financial wellness counselors will do some heavy lifting. They can perform a budget analysis to assist a plan member in preparing for regular mortgage expenses. Cash flow and costs will be adjusted and fine-tuned. The changes are suggested that permit an individual to pay the mortgage without ignoring other costs.
The down payment will influence the mortgage interest rate. A sizable down payment can save the buyer hundreds of dollars over the years. Countrywide counselors will do an asset inventory to discover what can be sold to generate that larger down payment.
Make Your Move Helps
Real estate is a mystery because of the terminology. Many players are involved in the house buying game. A first-time homebuyer needs some assistance, and Countrywide offers it.
Our self-study program, “Make Your Move,’ will educate a financial wellness plan member. The course will explain the roles people play in house buying and the language used. The pros and cons of financing options are examined. The student gradually becomes well versed in buying real estate. The savings realized because of a better understanding can be impressive.
The Client is a Partner
Countrywide knows it makes no sense to provide a boilerplate plan that does not consider an organization’s workforce’s needs. We ask our clients to participate in designing the benefit. Prospective clients are shown all the financial wellness options, and we encourage them to ask questions. The decision-makers will then decide what options will be in the finalized documents. Those choices are what we will give to the employees. We administer the benefits and provide high-level member services. We wish to stress that empathy and understanding are a part of the package. We respect every plan member, regardless of job title, and Countrywide delivers services as quickly as possible.
People dream of owning a house and are frustrated when they cannot buy one. Countrywide wants to remove the obstacles blocking the road to that great American Dream. Buying a home is not out of the question for one of our plan members.
If you are interested in our financial wellness benefits, please feel free to contact us at your convenience. We are here to provide a meaningful service to you and your outstanding employees.