Bountiful Short Sales: Why Do Some People Worship Perfect Credit?

Bountiful UTAH – It always amazes me how some people will do anything to have perfect credit. They would rather go hungry than risk harming their prefect credit rating.


A good example is a guy I will call Seth. Seth has perfect credit. He has worked to keep perfect credit for the last 12 years.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Seth has a several credit cards with high balances. He ran the balances up when the economy was strong.


Today, he can barely afford to make the minimum monthly payments. However, Seth was recently turned for a car loan, despite his perfect credit. Why did that happen?


I thought that perfect credit guaranteed that you could get a loan! Well, it turns out that Seth has too much debt.


Most banks won’t lender to someone with a high Debt to Income Ratio (DTI.)They calculate that number by adding up all the bills that you pay each month.


They use these ratios to determine if you have enough money to pay them each month. Seth can barely afford to pay the minimum monthly payments on his credit card debt.


If he pays them, then he can’t afford a car payment. His family needs a car more than they need perfect credit.


In my opinion, he should stop paying the credit cards. He should use the income he does have to take care of his family.


Having a car is more important than perfect credit. If they don’t have a car, then it will disrupt his work. If that happens, then his income could drop even more.


Then he won’t be able to afford the credit card payments anyways. Besides, there are ways he can repair his credit later on, after the economy has recovered.


At least he will be able to afford living expenses in the meantime. Thinking about a short sale?


I can help you short sale your property and never pay the bank another penny. Send me an e-mail at utahhomesaver@gmail.com. I will contact you for a free consultation.


When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (801) 651-0707


Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.


Thinking about a loan modification? Our Layton loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.


Thanks for reading this, dave forsberg.


dave is a Real Estate Agent at Prudential Utah Real Estate - Bountiful. Layton Short Sales Realtor:


Phone: (801) 651-0707. utahhomesaver@gmail.com.


Greater Salt Lake Short Sales. Real Help for those that need it most.


View My homes for sale at BuyUtahNow.com.