Purchasing a home is a goal that many Kansas City residents are trying to achieve day after day.  In the past, it may have been much easier to purchase a home; however, in today’s economic climate, it is very difficult for even very creditworthy individuals to purchase the home of their dreams.  The inability to purchase a home leaves many Kansas City residents living in rentals, with no idea when they may be able to take that step forward into home ownership.  Lenders are astutely aware of how badly people want to purchase a home, and they take whatever measures they can to entice you to apply for a home loan that will not be in your best interest.

We all get junk mail on a regular basis, but some of us get more credit card and loan offers than others.  These offers are always very attractive and often come in the form of a fake check payable in an amount equaling tens of thousands of dollars.  While most people are able to recognize these “too good to be true” offers right off the bat, other people are often duped, and are not aware of just how disastrous it can be to obtain what may be called an unhealthy loan or credit card.  Home loan offers continue to overload mailboxes because the lenders’ methods are working.  Even if most people ignore home loan offers received in the mail, there will always be one person here and one person there who are making the advertisement process worth the lenders’ time and money.

Take Every Home Loan Offer with a Grain of Salt

While very attractive, home loan offers received in the mail can sometimes send the wrong message to consumers, informing them that they are creditworthy enough to purchase a home with little or no money down.  I think most people can agree that it would be wonderful to purchase a home with a minimal down payment, or no down payment at all.  However, this is very unrealistic in the real estate industry and it is rare that a home buyer can purchase a home with nothing up front.  If a home loan offer indicates that you can purchase a home with no money down, it is likely that the interest rate on the loan is so high that it would resemble a credit card, where high interest rates make it difficult to see your overall debt reduce each month.  This is not how a true home loan is supposed to be.

Opting Out

 If you are simply sick of the home loan (and other financial) offers you receive in the mail, you do have the ability to opt out, which means you can remove your name and contact information from that lender or creditor’s database.  Loan and credit card offers have an opt out notice on them, and if you follow the instructions by calling a phone number or going online, you will be removed from that particular list.  However, this can get tricky when you have to contact a different lender or creditor every single time you receive an offer in the mail. 

Further, many people simply throw away the mail before opening it, so they do not really have the opportunity to opt out of receiving these sham offers.  As such, because there is no good way to completely eliminate the home loan offers you receive in the mail, it is important to work directly with a local lender when deciding to purchase a home, staying away from offers on paper that really are too good to be true.

Contact Kansas City Bankruptcy Attorney Douglas Breyfogle to Schedule a Free Consultation

Creditors and lenders do a wonderful job at enticing consumers to give in to high interest credit cards and loans.  The debt created by such credit cards and loans is what leads many Kansas City residents into bankruptcy.  Before purchasing a home, you should consider speaking with a skilled Kansas City Bankruptcy and Debt-Relief Attorney.  With more than twenty years of experience, Douglas Breyfogle devotes his law practice to helping consumers like you get out of debt in the most feasible way possible.  Debt is a stressor that can last for years, so it is important to take charge now before your financial situation spins out of control.  With the help of Douglas Breyfogle, you will have a better understanding of how to manage debt and avoid unnecessary debt in the future.  If you would like to speak with Douglas Breyfogle, contact our office today by calling (913) 742-8700 to schedule your free consultation.