Week 5 Part 1 [Eddie Crosby]



I recently went house shopping for a new house back in April of this year, and I am a service connected disabled veteran, I have a disability rating of 50% or higher and a half decent credit score so I figured that buying a home would be easy, with a low 2.5 to 3% interest rate. And with all the letters and advertisements I was hearing on the radio, getting in the mail and seeing on the television I figured that all I would have to do is just fill out the paperwork and bingo I would be done. just that easy, Right? .Wrong because as I dove into this mess of home buying between me and possible lenders I quickly learned the sad truth that not all veterans qualify for such a low rate on such a great home mortgage plan as was not advertized by the lenders were there hidden limitation like not having a steady job and a 700 credit score, and an Honorable discharge, well after some bad financial choices in my youth and recently moving here to Alaska, and currently enrolled as a full time student here in Fairbanks, I quickly found myself not being qualified as the ads were telling me in there selective hidden messages, that “All veterans are eligible” but what that ads did not say is that “Not all Veterans qualify”.


The good part about this story is the fact that I was able to buy a new home at an even lower rate than the veteran administration was offering on less stipulations by simply using a simple added benefit of being a first time home buyer, yes I did have to come up with a down payment, and no the house was not as advertized in the real estate ads, in fact the house was listed on there site for 5000$ less than the seller wanted, just to get me to walk in the office and show interest in the house then and only then do I think that the real estate company show you the true numbers like there 7000$ commission on the sale of the home.          In closing I think that all companies in the real estate business do a kind of a bait and switch method to get you as the potential buyer inside their doors, just as car company try to advertise their fuel economy for there cars and there safety features over another when in reality it is just another way to get you onto the showroom floor, because once you sign on the dotted line, to their advantage it is now too late for you the consumer to return the product if it was found out latter that the MPH was not truly correct, or as for the real estate the taxable values for this fiscal year was not as planned because those numbers are truly out of reach for the real estate company’s area. To me I think a company’s ability to advertise something based on current facts compared to an estimated outcome should be the standard of doing business, but as in home buying and car buying it is all based on the future and rarely based on the now.