Albuquerque, NM – February 8, 2012 – (RealEstateRama) — Less than perfect credit is the norm for home buyers rebuilding their lives in the aftermath of the mortgage credit crisis, according to Albuquerque REALTOR® Joe Maez.
Maez says that it’s increasingly rare for buyers to come to him looking to buy their dream piece of Albuquerque real estate (http://www.nmhomesplus.com) with perfect credit.
“Most buyers today have been scarred by the craziness that has gone on in the mortgage industry in recent years, and in some ways, it’s the new normal.”
He says he regularly sees buyers turning their finances around to be able to buy a home again after a short sale, foreclosure, or just a period of unemployment that led to negative credit profiles. Those who are buying homes, he says, are working hard to fix past money issues with better savings plans.
“I encourage my clients to start early correcting past credit report errors, and most of all, make every credit payment on time consistently. With some time and distance between past negative items and current ability to pay, most people will be able to buy a home again in no time.”
Maez coaches buyers who want to qualify for a home loan to pay down any credit accounts to below at least 50% of the credit limit. He says this is a key ratio that lenders look at, along with other factors such as income and on-time payments.
He says even former short sellers can buy again in as little as two years, depending on circumstances.
“If you’re looking for any type of Albuquerque real estate (http://listings.nmhomesplus.com/i/5282/Albuquerque_Real_Estate) in the area, including Corrales, Los Lunas, or Rio Rancho real estate, please give me a call.”
About Joe Maez REALTOR®
Joe Maez is a proven real estate professional who knows how to do things right. Every day he is out there working to make the home-buying or -selling process easier for his clients. Regardless of which way the market has gone, Maez’s sales have gone up every year. He says, “If you really do a good job, you’ll always have clients,” and his track record proves it.
Joe, who has personally sold more than 500 homes in Rio Rancho and Albuquerque, has unique and extensive knowledge of the local markets. He works regularly in the Albuquerque New Mexico market, covering Rio Rancho, Corrales, and Los Lunas Real Estate.
For more information, contact:
Joe Maez REALTOR®
Keller Williams Realty Westside
8100 Wyoming Blvd NE
Albuquerque, NM 87113