You may be ready for the future, but is your structured settlement? The snow ball effect of a downward economy has hit almost every American. The Bloomberg report shows job losses continuing to increase. The housing market already flooded with foreclosures may be good for lowering home prices, but the actuality of it all is that the national average interest rate on a home is going up, and steadily.
You may be able to afford the purchase price of the home, but with rising interest rates nearly a full percent higher just from January of 2008, the long term cost to a home-buyer could be more than you bargained for.
How much longer will your annuity, lottery, or structured settlement payments hold up against the decreasing time value of money? Most financial experts agree that 20 years ago, a structured settlement would provide a valuable and predictable means of income to protect against such things as loss of a home, or un-expected needs that could arise in one’s lifetime. But 20 years ago, most financial experts, did not dare to speculate that today inflation, and fuel energy costs would see such a drastic and accelerated growth within such a short period of time.
Even so, with inflation being what it is, pulling cash out to reinvest in the market is no longer a vehicle of choice to guarantee you will receive any significant returns.
The stock market has reached it’s bear average. For those of us who do not know what this means, it means that the market has suffered almost a 20% loss or downward turn in less than not only a year, but within this passed month, leaving many holding what would have not so very long ago been considered an impressive portfolio with something less stellar than what was originally anticipated.
Now is the time to invest in a home. Now is the time to look at the tangible versus the cash flow. Long term investment in a home has never shown to be a poor choice. With accruing equity, and the many added tax benefits, a new mortgage may very well still be the way to go.
For so many families living paycheck to paycheck, or waiting every month for that settlement or annuity check, it seems like home ownership is even further out of reach. Do not dismay!
If you are one of the tens of thousands of individuals who are receiving a structured settlement, lottery, or annuity payment, now could be your perfect opportunity to realize the American dream of owning your own home. But you will have to act now to situate yourself financially.
Take the time to get a copy of your credit report. You are entitled by law to a free copy once every year. Make sure there are no erroneous collection activities on your report and verify that all your active or open accounts are current and up to date.
After you have gone over your credit, and cleared up anything negative, you will be in the best possible position to qualify for a new home loan or mortgage.
Remember that if you are a veteran of the US Military, you also have the added choice of a VA Loan which entitles you to purchase a home with little or no money down.
The process of increasing your credit score and standing may take 12 – 24 months to see the results. That is why it is so important to start taking the steps to be rid of negative financial baggage before you even start looking for a home.
How does your structured settlement, annuity, or lottery payment come into play here?
Your structured settlement, annuity, or lottery payments can be sold in whole or partially to obtain the money you need now to pay some of these expenses and debts off.
You can get a large lump sum of cash now, without having to completely give up all of your future payments.
Take only what you are sure you will need immediately, or calculate how much additional money you think you will be expected to put down on a home purchase, and put those funds into a separate savings account. Doing this will save you time and money by getting it done in one transaction. You can always sell additional payments at a later date or save and set aside monies from your existing income.
You may have planned for the future, but did you plan your structured settlement to accomodate your future needs? Buying a home is just one of the many tangible investments that you can use your payments towards.
If you want to discover the many ways an individual receiving a structured settlement, annuity, or lottery payment can break free from the limiting confines of smaller payments and get the advantage of having the cash you need and want now, call toll free today 1-866-865-7044.
