Weird week to report. It’s a case of the same news being looked at two totally different ways. Earlier in the week I told you how hard the rise in home prices has been on first time home buyers. It’s just getting more and more difficult for them to afford decent homes. So then what’s the other side of the story?
The fact is 25% of homeowners are underwater on their mortgages. But with values rising nearly 3.5 million borrowers are due to more out of the negative equity range. And another 6 million that could qualify for refinancing could also get back to a more normal 80%.
Sure those kind of numbers are up in the air and depend on a whole lot of things working out. But it’s hopeful at least. And that’s important to remember. Keeping up hope is the strongest way to change your situation.
If you’re unhappy with where you are then you may be in luck. But you need more than luck. You need a fire in your soul. You need a dream and a heart. I know those of you out there who have been following me all these years have those qualities. We’ve suffered through hard times, down economies, hopes and losses. But having the heart and courage to pull through is what keeps up strong. I’m proud of each of you and you should be proud of yourselves.
Have a great weekend and relax. Things are looking up!