What Being A Debt Collector Taught Me About Buying A Home

mr money bags monopoly

“When you start looking for a home to buy, it is always good practice to get pre-approved for a loan. This will help you understand how much home you can buy…. What banks didn’t used to tell you is that the pre-approval amount is what you can afford at your top end. This means that you won’t even be able to afford food, pay for utilities, drive a car, or anything else. It is the absolute maximum that you can even afford. It was a terrible model.” – Vosa.com

[Great photo of Mr. Monopoly Money Bags by aisletwentytwo]

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Last modified: March 11, 2014

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