Janice talked to her parents if they could bargain. She liked the house so much even if the appliances doesn't match her taste. In her thought her family could buy new appliances when the right budget comes. Mr. & Mrs. Wallberg's decision is to sell the house they have at the AppleGate instead. Once its sold then they can afford to buy that house in Comoxial.
Plan A to sell the house first before committing to Plan B. This plan was told to Mr. Hansend the realtor or agent. Although they have money in the bank in the form of savings account still is they have to choose the "first priority first." This plan made Janice thinks twice. She thought they can move as soon as possible.
Mrs Wallberg: Yes we can move ASAP but money is hard to come by these days. Your Dad and I are getting old and we want to invest on something that we can be proud of and would help all of us in the end.
With the present economic situation, investing on something that we don't know or unsure of we'll lead us to nowhere. But hey, investing on houses especially the house that you will live in for the rest of your life is more than an investment instead of renting and renting a house which you wont own. See the difference? A shelter and or a house is an investment more than what you are investing in Wall Street. Some people cannot figure that out.
While others have different investments in the form of children. They send their children to school and or to university that somehow when they graduated, have the diploma and the job they could at least help their parents. That's the kind of dream every parents are hoping for. But if they're kids went to college and then after graduating and have the employment they deserved then end up marrying...then hopes and dream are gone. Janice thought that's the asian way of absorbing knowledge and investing the odd way. The westerners have different view and opinion. Some of the families she knew when their kids turned 18 they are on their way finding work and finding a place of their own. They surely don't recognize their own parents well maybe the some of these parents don't even care or it's the fault of the kids who would rather not be reprimanded or maturity had taken a toll of its own and they want their parents out of their business at that age. When discipline for them has a different meaning being implemented and brainwashed by the people they encountered almost everyday.
In Janice case she is over 18 years of age at this point in time and still living with her parents. To her there is nothing wrong staying at her parent's house. She's always been a good kid ever since. She's mean outside when provoke and she used her judgment to tackle the problem. She got this wisdom from her father who is a disciplinarian and because he is a military guy.
Now back to the present situation. They have to sell their house first. What if they don't have a house and they are renting a house what could be the consequences? There are two problems the borrower may expect.
1. Credibility
2. Bank has no sufficient fund
1. CREDIBILITY. What I found out here even if you have enough money STILL is the realtor wants to know if you have credit cards. For what? You have money to buy a house why you want to know and why there is need to have credit cards when CREDIT is a debt and its not guaranteed anything? Let's assume it is a guarantor or a guarantee that if you cannot pay your mortgages it can pay for the transaction. Without credit card you cannot also buy a car. Unless you bought a used car. WEIRD right? Who owns the credit card? The Bank?? Who owns the bank?
Although Janice's main course of study is PHYSICS, somehow economics and banking and its system bothers her. In her thought the banking system has too many flaws.
On Credibility again. Why not the bank get the comprehensive resume of the applicants and then see for themselves whether what is filled up in the resume is true or correct and then they can check the references, etc., etc. If both parents are working or even one is working and has the capacity to pay mortgages. If they can pay monthly rent religiously they can afford a house and pay the same amount.
2. BANK HAS NO SUFFICIENT FUND. Why it takes too long for the bank to lend money to borrowers? If credibility is not the problem?
a. Big corporations or institutions who owed the bank in billions and millions of dollars went bankrupt. This trigger the bank not to lend any money because those big corporations cannot pay what they owed.
b. Unemployment
c. Economic Recession
d. Bank allows loan but within limited fund
e.Bank doesn't have much depositors; only on time deposit and chequing deposit. This situation is when the borrower lives in a very small community.
What happened to those empty big houses that were in the market for too many years without any buyers? The realtors are advertising them to those who can afford but up to what time and year? When those houses are already rotten and damage? That is not my problem. They can have them as shelters for birds , rats and termites.
There are too many greedy people in this world that gluttony seems to be the biggest factor in human history and that which the cause of war and rumors of war!
No comments:
Post a Comment