How does a homeowner know it’s time to downsize? How can you help “house poor” clients make smart financial moves? Homeowners can get defensive when they’re struggling to hold onto an expensive home, but ignoring the problem often ends in disaster. Help these clients by counseling them before they enter into a foreclosure situation.
Check out this piece, “8 Signs Your House Is Holding You Back,” from WiseBread, a site all about “living large on a small budget.” According to the piece, these eight warning signs may mean a client needs to head off financial disaster:
- It is costing you more than 30 percent of your income
- You’re barely making a dent in the loan principal
- You are taking on other debt
- You’re struggling to hold onto it
- You’ve come to resent the house
- Your life has shrunk
- Investing seems impossible
- You feel stuck in your job
More than a few of these signs may be a call for change. Read more about these eight signs here:
https://www.wisebread.com/8-signs-your-house-is-holding-you-back
