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Bruce Mesnekoff discuss about student loan debts and the housing recovery.

Thanks Jessica for inviting me to your studio. Yes, it effects, Each and every student, Now that the financial crisis has slowly started to fade away and the real estate market is back on track, the mortgage rates and the home prices are extremely low – this is why many young couples and students are looking forward to buying a house of their own. However, many were unable to do so due to student loans – add a temporary job to that and buying a home is an impossible mission.

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Bruce Mesnekoff discuss about student loan debts and the housing recovery.

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  1. Bruce Mesnekoff discuss about student loan debts and the housing recovery. Hey Bruce mesnekoff, welcome to our radio station in tampa, today we have question from our listerns question isb How Student Loan Debt Affects The Housing Recovery Thanks Jessica for inviting me to your studio. Yes, it effects, Each and every student, Now that the financial crisis has slowly started to fade away and the real estate market is back on track, the mortgage rates and the home prices are extremely low – this is why many young couples and students are looking forward to buying a house of their own. However, many were unable to do so due to student loans – add a temporary job to that and buying a home is an impossible mission. Jessica to Bruce Mesnekoff : So Bruce Mesnekoff Why we every time talking about financial crisis? how student stuffers from it. Those who have taken a student loan and are in debt may not be eligible for a mortgage, as the student loan debt is getting in the way. First-time buyers have a difficult time purchasing a home if they are weighed down by student loans, especially those whose debt tops $100,000 or even more. If several years ago one out of two Americans was a first-time buyer, now one out of three people is buying a home for the first time, during the housing recovery – this is caused mainly due to the burden of student loan debt who forces people to adapt and to either stick to renting a home, or to moving with their parents or roommates. Over the past decades, the number of student loans has tripled and this aspect has a direct impact on the housing recovery. If we calculate the total student loan debt, the sum is above $1 trillion. In some cases, the student debt prevents people from getting an expensive large home and forces them to reside to the lower version of the house, while in other cases people may not be eligible for a mortgage at all. Most students who have taken a student loan from undergraduate or graduate schools must repay it over a 30-year period, and the monthly rate is usually several hundred dollars. This is why many are forced to live at home for several years in order to be able to apply for a mortgage and to pay for a house. Often, saving the rent money is the wisest and most efficient way to raise the money and put a down payment on a house. Transitioning from renting a home to owning a home is a daunting task, leaving aside the financial stress and pressure future owners are subjected to – a student loan debt makes the transition almost impossible for tens of thousands of Americans. As statistics have revealed, approximately 30% of those who have borrowed a student loan are delinquent on their debts, which automatically has a negative impact on the credit rating. The financial crisis has determined US banks to pay more attention to the credit rating, thus leading

  2. to a more severe credit environment that does not allow those with loan debt to apply for a mortgage in the near future. Buying a high-end property is just a dream for many, and they usually have to delay the home purchase project for a couple of years to reorganize the debt. Despite the fact that mortgage rates and home prices are still relatively low, they are moving up quite rapidly. Again Thank you Bruce mesnekoff to coming to our studio and guide our listeners on radio. Thank your all our listeners .. your Jessica from tampa. Contact Bruce mesnekoff for any further assistance Student Loan Help Center General Manager Bruce Mesnekoff joins us to Discuss the Student Loan Situation in America You can find Bruce mesnekoff on socials too.

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