COVID Crisis Series: Beware of the COVID-19 Market "Experts"

Published: April 22, 2020, 10 a.m.

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So we\\u2019re into this a month, a month and a half. Many people are confused and frustrated. Outside of some of the tips in today\\u2019s episode\\u2026my best advice is get off social media! Not only are people fighting with their friends but you\\u2019re getting hit with a bunch of misinformation from so called \\u201cexperts\\u201d.

We all know how the algorithms work, you search one thing\\u2026.you get a bunch of ads and offers about the same thing. It\\u2019s no different than info on the Coronovirus virus and we\\u2019ll talk about a few articles in particular that are flashy headlines that use the word \\u201ccrash\\u201d among others. Wait until you hear what constitutes a crash in the real estate market!

First, if you need help paying your mortgage contact your lender now! Many are doing deferment plans \\u2013 and Tom Ross will tell you exactly what might and will not be reported to the credit bureaus.

There is some local help as well that was set up during the housing crash from the late 2000\\u2019s. The \\u201cSave Our Home AZ" program offers principal reduction assistance, monthly mortgage subsidy assistance for under and unemployed Arizonans, and second lien elimination assistance to qualified Arizona homeowners. The program\\u2019s goal is to aid Arizona\\u2019s homeowners in avoiding foreclosure by assisting with mortgage affordability.

https://housing.az.gov/save-our-home

Tina Tamboer of the Cromford Report will discuss the current market data that you will want to hear. There is encouraging news on several fronts, and again, using facts \\u2013 not flashy panic inspired headlines and clickbait.

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