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FIND YOUR DREAM HOME OR APARTMENT
132Comments
Feb 23, 2013 11:18AM
Feb 23, 2013 9:21AM
Feb 23, 2013 9:11AM
lol. even your automobile insurance affects your score, they check your credit history from once a year to once a month depending on how bad they want to raise your rates. a lot of people don't believe me on this but check who has been asking about your credit and see how close that auto ins. rate increase is to your drop in credit score. the poor will always pay more than the rich on every thing.
Feb 23, 2013 8:37AM
Feb 23, 2013 8:31AM
Look, my husband and I just went through a home loan and it was a disaster!! We have owned 8-9 houses in our lifetime and this was the first time we wanted to say "Forget it!" It was our own bank and they asked so many questions after banking with them for over 15 years. Any unusual money deposited in your account, they questioned, including a garage sale before we moved and the proceeds deposited into our account. My husband buys and sell coins and wow, they asked about those monies deposited into our account. We rented until we found a place to buy and they wanted document after document from that. This went on for 45-50 days before we even knew if we got the loan although we were pre-approved. FYI...If you are planning to buy a home, start documenting everything that has to do with money coming in and out of all accounts (at least 3 months worth). If you rent while trying to find a place, make sure your rent receipts have all info on them such as for what month you are paying for or if paying the first/last/deposit. Last of all...they are going to make you sweat to the very last minute before you actually sign the closing papers.
Feb 23, 2013 8:24AM
The secret to buying a home and keeping it , is to buy within your means. I made sure when I bought my home, under the first time buyers program in 2003 that I would be able to afford the mortgage payments ( which also an escrow account for my property taxes and home insurance) if I found myself on unemployment! Which I have been on several times since I bought my home but through thick or thin I am still standing! Also its better to have little good credit or no credit then a lot of bad credit! Look to see what First Time buyer programs are in your community, there are free classes that you will be made to take, to ensure you keep the home you purchase. If you previously owned a home you need to wait 3 years ( dont know if this has changed ) before you qualify for the first time home owners programs. Good Luck and dont give up your dream. If I had to do it all again I would look for a more rural setting that I could do more homesteading with less city regulations regarding chickens and roosters and how tall a "weed" ( not ) can grow...but thats up to you.
Feb 23, 2013 7:58AM
If you have a low credit score you need to come with money. If your self employed you have to have money. You can't not make enough you just need to have the money to take the balance to what you are approved for in the loan. (If you are pre approved to 100k and the house is 110k you need 10k for that.)
There is a trend here. If you have the money then there aren't any problems. I'm self employed and my wife had very low credit after the 1st broker ran her credit 12 times in 45 days. After two different banks we walked into our home. If you want the home and can afford it you can buy it no matter anything else.
Feb 23, 2013 7:53AM
We bought a home on a LIE in 2004 and were lied to by Wells Fargo agents, (who didnt lose their job) and were told that we could refinance at any time. It was our first home, and we had payments that were very tight to our budget. 2200 a month was a lot of money so when the boom hit in 2007 and 2008 the bank would not refinance and as a matter of adjustment increased our mortgage to 3800 a month due to an adjustable rate loan. They told us it could not go higher than 2 percent in interest, the lie was that it could go up 2 % per month. We lost our home and had to declare bankruptcy, the home is still empty in Las Vegas. We moved and now are starting over. We did not live beyond our means but within our means, and now the banks get money from the fed to protect the fed but not the consumer. We live in a rental home at 1500 a month and may not be able to buy another home for a while, do not think that all people are irresponsible, and when you buy DO NOT sign all they put in front of you, get an attorney to review the documents because they DO LIE and they DO it for their company that is worth billions. Apparently millions of others bought the same LIE and are sueing and we will eventually win as the attorney has told us but it my be years before we see a penny and even then only 10% of what we put in. This country needs a poor revolution of the rich when only 3 % of us are over 100 thousand in assets or more and the other 97% of us live below, the majority should re-invigorate the mass instead of cursing and complaining. I am 50 years old and know that my future is only what i make it so make it a good one.
Feb 23, 2013 7:39AM
Feb 23, 2013 7:15AM
its easy to post a comment when u make a great deal of money u pathetic s****ing losers. y dont u stick ur houses up ur a$@ and go piss up a rope. when u have kids and try to pay bills off low wages we need an outlet also. not everything is designed for u wealthy aholes.go choke on ur money and ur house. as long as a family sticks together where u live doesn't matter it could b in a box. our society is catering to the wealthy and i realize we r all not blessed to make the big bucks and i dont expect any pity. but i don't need to read ur comments about how good u have it and what we need to do better. u r no better than us poor trying to survive so just leave us alone and we will b just fine scrapping and getting by. in the end we have a somewhat happy life while ur spouse is probably cheating and stealing and trying to figure a way to kill u in ur sleep to collect the life ins.. in the end a house isn't the only thing to determine the person if u rent its ok just b at peace with ur self and let these plastic fools keep thinking they r the kings.
Feb 23, 2013 7:09AM
Feb 23, 2013 6:43AM
It's really entertaining reading about all the whiners who want to BORROW money belonging to others (bank depositors) and complain because they can't get what they want by just signing a promissory note. Take a look back at all the broken promises by home buyers. YOU MUST PREPARE to be a borrower today, If you do not you will not get a home loan period. Quit whining and start doing what it takes to get the banks to lend YOU the money. If you can't do that then just move on and get that instant gratification buying things you can't afford by using one of the many credit cards in your wallet.
Feb 23, 2013 6:13AM
I find it amazing that most people do not realize how much interest they pay on a mortgage.
On a $200,000, 30 year mortgage, the banker, for doing approximately 2 weeks of pre-mortgage paper work, and sending out 30 years of monthly statements, will collect approximately $400,000 in interest on that loan. No money was created to pay the interest on that mortgage, so the system relies on others to borrow and spend, otherwise the money wouldn't exist for you to capture through commerce, enabling you to meet your payment obligations. if you don't meet those payments, the banker forecloses on the property, and then sells it all over again. Ironically, the money that the banker loans is created by fractional banking and is actually created on the borrower's promise to pay. What a ponzi scheme. Amazingly, it's been going on for many decades, yet very few realize they are being usurped by the system.
Feb 23, 2013 6:01AM
I live in the once great state of NY, and one of the biggest source of tax dollars, and this state is always on the balls of it asx, is you home. It doesn't matter what you make, if your working or not, the tax man is at your door 2 times a year to collect. First in Jan for property tax which feeds the local and country governement(yea we have that here in NY) and then the big wopper. It comes in September when the vile and corrupt teahcers union drop the hammer on you, you get your school tax bill (yes we have that here also!). Cost of both, well on a home that is valued at $200,000 your property tax will be around $3,000 and your school tax around $5,000. So my happiest day was when I agreed to let my X keep the house, and I starte renting, no more of my money going to the teahers union.
Feb 23, 2013 5:57AM
This article doesn't convey the whole truth. Yes, there are some things that can set you back but talk to a mortgage loan officer if you're serious about buying. They will advise you, don't be discouraged if you have any of the mentioned scenarios in this article. Banks have gotten more strict but 75% of people do qualify. You just have to be patient because they ask you to provide allot of information and copies of stuff. They check everything! Don't be afraid to discuss your concerns with a loan officer.
Feb 23, 2013 5:53AM
Wow you think it is so hard today to buy a house, poor things. Back in the day, when there was some logic to what we did in this country here is what you had to do to get a mortgage. Got my first one in the early 70s. House could not cost much more than 1 years salary, and you needed 20% down. Now if we had stuck to those rules, no housing bubble, but than agian we would as a country have to be finacially responsible. And would could borrow agiain the phoney baloney "equity" in our home and then buy cars, and big screen TV etc. And we sure didn't or don't want to do that.
Feb 23, 2013 5:38AM
I am 52 years old and i have been working since i was 12, I didn't think i was ever going to buy my very own home. I live in a double wide now. I will be closing on a real house in 5 day's the house I'm buying is $127K 4 bd 2.5 bth finished basement with attached 2 car garage on 2 acres. I got an fha loan my credit score is 658. I put 5000 down on it and my interest rate is 3.4%. I am working with a mortgage co not a bank All i had to do is pay off some credit card debt witch was less than $4,000.00 my loan officer was great. It only took about 5 months to do every thing I only make 32,000 a year. If you want to buy a house. You can do it. I DID IT, and i am filling great. But you better hurry as interest rates are going up up up. Thank you Century Mortgage Co in Elizabeth Town Ky.
Feb 23, 2013 5:29AM
"Buying a car." This is interesting. I can understand if you've taken on debt or have left yourself with too little cash for the home purchase, but simply buying one? Last year we bought a new car. We paid cash and were astounded that our credit reports had been pulled as part of the "standard sales process."
Feb 23, 2013 5:25AM
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