Hindsight truly is 20/20. While the financial crash of 2008 hit many people like a ton of bricks, if you look back at the events that led to the financial debacle, you can clearly see that it wasn’t that unsurprising. The only surprising thing about the crash, if anything, is the fact that it didn’t happen sooner. It seemed like the whole system was held together by paper clips and rubber bands. Seriously. Bad regulations. Bad government incentives. Greed. All combined to a nasty financial explosion that crippled markets all over the globe.
Real estate investments got a massive black eye in recent years. Conventional wisdom says that buying real estate is a bum deal because the price goes down. Sure, the value of real estate across the US and many other countries did go down. However, just like with any other market, the market recovered. It takes time but there will be a recovery.
Everyone knows that it’s important to have a good credit score to get the best rates on loans, credit cards and other necessities. Your credit score can be damaged by actions of your own doing or by identity fraud. Most people don’t know what their credit score is until they apply for a line of credit.
If you’re going to buy a house in the near future you’re going to want to have the highest possible credit score. The better your score is the lower interest rate you’ll get on your mortgage. Just a half a percentage difference could mean tens of thousands of dollars in savings throughout the course of your 30 year loan.