Published By Countrywide Pre-Paid Legal Services, Inc.
No one should think that buying a house is out of the question. Real estate prices can fluctuate, and mortgages are not always hard to get. A problem that many people face is a lack of information.
What a person needs to know before purchasing a house includes financial data and an understanding of how the world of real estate functions. A first-time homebuyer is not familiar with mortgages or the roles of various people play in a real estate transaction. Additionally, ignorance about the process of financing the purchase is going to cause a person to pause and reconsider buying property.
It can help a person if he or she has access to a certified counselor in the financial world. That professional can give the kind of advice a homebuyer can use. Being able to learn about real estate makes it easier to arrive at fundamentally sound decisions about acquiring a house. Countrywide Pre-Paid Legal Services has a Financial Wellness program that can fill in the blanks in a person’s knowledge about housing.
Show Me the Money
A house is a significant purchase and the buyer will spend years paying off the debt. A sad consequence of the 2008 Recession was the number of foreclosures because owners could not make the monthly payments.
Those who have no experience with budgeting will live from paycheck to paycheck. They have no idea of cash flow, and that knowledge deficit causes them to hesitate about buying a house. Countrywide has a nationwide network of certified counselors who give financial wellness assistance. These professionals will help people make sense of their money.
The primary discovery tool is a budget analysis. The Countrywide counselor examines the income and expenses of a Financial Wellness Plan member. This person will offer suggestions on how to trim expenses and get the most out of the monthly income. The plan member learns how to allocate money so that there is enough to afford monthly mortgage payments.
Making a Large Down Payment
Many first-time homebuyers use FHA mortgage financing because the qualifying down payment is small. A conventional home mortgage has less paperwork and is easier to get. It does require a larger down payment. The Countrywide counselor helps find the money with an asset inventory.
The counselor reviews the sellable assets a plan member might have. Financial securities, collectables, whole life insurance, and other things which can be easily sold are reviewed. Plan members will discover that they are worth more than they once thought and the money for the down payment is within reach.
Gaining Financial Wellness Knowledge
Mistakes in real estate can be expensive. The wrong mortgage might lead to a severe financial difficulty down the road.
Learning the ins and outs of buying a house saves a person money, grief, and time. Our self-study program “Make Your Move” educates a Financial Wellness Plan member. He or she learns about house buying from all angles. The lessons learned in the course save plan members thousands of dollars over the life of a mortgage.
We Seek the Help of Clients
The best way to design a benefit all employees will use is to ask the decision-makers to give their input. What they think is best for the financial wellness of their employees will be in the final plan document. We will explain all our options, but we respect the choices. We back these selections up with some of the best member services in the industry.
Everyone should be able to buy a house within a reasonable price range. We help people prepare to make that big step into owning property. Plan members appreciate the advice and guidance that Countrywide counselors provide. We have helped many people achieve the American Dream.
If you have any questions about our benefits, please feel free to contact us. We want to be able to explain to you how our program will benefit your employees.