Tony Soprano, Foreclosures, and the ‘Da Dum’
You know how pieces of music resolve, bring closure to the end? Kind of with (and you have to hear this in your head) a ‘da dum?
The Sopranos final episode had no ‘da dum’. At least not the way most people wanted. No clean tied-up ends, no resolutions, but a lot of wondering. Many people want that feeling of coming home, having resolution, knowing how things are going to turn out and be ok.
For homebuyers it’s the same way. And it’s real life. (Of course that is part of the point with The Sopranos’ ending: just like real life.) And I think getting a mortgage can be scarier than anything from The Sopranos. We do things thinking and hoping that everything will be just fine. And when we think and hope, as we are finding out more and more, we head down the foreclosure road.
Here are a few critical stages where hoping that things will turn out ok and financing can go bad:
1. Budgeting: not writing a realistic budget and thinking that something close (a number close to the maximum that you want to spend) will do just fine. Decide on a budget, the most you want to spend on your total mortgage payment, and stay with it.
2. Application: the loan officer verbally gives you numbers and says, “Don’t worry about it.” Get everything in writing. Make sure you understand everything.
3. Programs: programs that seem risky, for you, probably are risky. If you don’t feel comfortable with programs that are being presented, do not do them. Be assured with your decisions.
I actually loved the ending of The Sopranos. Of course, that’s TV (sorry, HBO…..).
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