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FIND YOUR DREAM HOME OR APARTMENT

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May 6, 2013 3:11PM
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With job market the way it is and the end of any stable employment. I am never dealing with a mortgage again. If I lose my job or I am the cut back, what do I do? To many things have to change in this country before I ever do it again.
May 6, 2013 12:48PM
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Sheep get mortgages....
Save your money and stop feeding the usurers and the bankers!!
Sheep are so conditioned to live off credit.....
Apr 23, 2013 8:38AM
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You have to live somewhere... so you either pay rent or pay for your own house and look at it as an investment for your future.  The key is not to buy more than you can afford. So many people bought homes that they could barely afford.  You must consider the "what ifs" when deciding how much house note you can afford. Ex. What if I lose my job?, what if we lose one income etc etc..?..... And instead of overextending yourself....save the difference and then you have money saved in the event something life changing happens. 

Frankly, the govt can try and blame everyone else for what happened but quite frankly, it was our government who said  " Everyone deserves to buy their own home"... which sparked "loose" Fannie Mae programs along with an array of products that allowed people to borrow money who never should have been able to borrow money... and then pointed the finger at the lending industry AFTER telling them that if the programs werent offered, they were being discriminatory.  It was unbelievable...100% financing for someone who couldnt even pay their credit card on time....The govt was in charge then and they are in charge of it now.  The difference is , now, they wont even loan money to people who are credible without first running them thru the ringer.  Theyve passed laws without even considering how it would really affect the market, without any knowledge of the market etc etc.  All the Dodd Frank Act did was shut out the self employed borrowers and the families who have the smaller loan amts. ....its a mess, can be fixed very easily, but it wont be because they do not want it to be.  The same people are making money off of others misfortunes,,,i.e. the investors, the large banks and the govt. 

Apr 23, 2013 7:04AM
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The NAR is attempting to once again inflate homes prices based on perception instead of reality. It's worked for them before and they made fortunes. They have no interest in your interests and could care less if you end up drowning in debt once they've received their commissions. Beware of industry propaganda..
Apr 23, 2013 6:44AM
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HURRY HURRY, DON'T MISS OUT ON THIS ONCE-IN-A-LIFETIME OPPORTUNITY!!!  This is such BS!!!  Everyone reading this stup*d article to need to do their own research before going out and taking on a mortgage.  Did we all already forgot what just happened in the last housing market crash?  Millions of American lost their home because of a housing mania that you NEED to own your house. 

 

This new housing bubble is being manipulated by the Feds!!!  They are trying to reinflate the housing bubble again.  There's no way home prices should be climbing this fast without wages also going up.   As soon as the Feds raise interest rates, and they will, home prices are going to plummet again and many people are going to go under water again.  Please please do your homework first!!!

Apr 23, 2013 6:19AM
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Do not fear mortgages! Of course, in order to take advantage of the record low interest rates you need to have great credit. However, the money you would gain in equity and the money you will save on payments are positive. For example, a 200,000 loan at lower interest rates will save 7,000 in payments and gain around 3,000 in equity. I think people should consider a lower loan period of 15 – 20 years because it is better to get debt paid off quicker. People wonder about the unstable market, but the bottom line is people need a place to live. If something does happen, such as a change or loss in job, the opportunity to rent your home is a possibility so the person is able to lower their own living expense until they are financially stable. However, sometimes rentals will be more than your mortgage payment. Going into debt for a home is not ideal, but unless you save for years while making a rent payment home debt is understandable. Money management people. Budget for maintenance, budget an 3-6 month emergency fund, budget EVERYTHING! People do not have a problem getting into a high interest rate for a brand new car every few years. Yes, I understand that is a smaller loan than a home loan but the point is pay your car off, pay your credit cards you used for some pointless purchase you could have paid cash for and put the money towards living. Also, Realtor do not control the market. Buyers and sellers influence the market.


ginaluke.com

Apr 23, 2013 5:49AM
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BUYERS BEWARE!

When buying a home don't forget the mainttinance cost. For example when buying a new home for $200,000 on a thirty year loan the mainttinance and remodling cost could easily run you an additional $200,000 over the thirty year loan. So whats it worth after thirty years?

200,000 + 200,000 + interest = I don't think so! And thats whats wrong with our housing market!

People forget to figure in the mainttinance cost of owning a home.

Apr 23, 2013 5:44AM
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As I watch the market in my own neighborhood it is kind of interesting.  Out of a neighborhood of 52 houses 5 are on the market.  4 of the 5 are small 1008 sq foot houses. (5th one is 1200 sq feet) Of the 4 that are the same size one  recently went on the market.  The guy bought it for 120,000.00 a little over a year ago the only thing he did to the house was put a roof on the back deck.  He now has it listed for 139,000.00 while the other 3 have been on the market for not quite 2 years now at 129,000.00.   Frankly I think the guy has lost his mind and it is going to be interesting to see how long it sits on the market.  It is amazing to see what people think their property is worth.
Apr 23, 2013 5:38AM
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I have to agree w/batty83. Why would anyone buy a home w/layoff's still coming in wave after wave. People still don't know if they'll have a job 2 weeks from now. Can you live your life like that? NO. However, don't get caught like us. We THOUGHT we were ok. Closed on a home. 2 months later after 10 years at his job. PINK SLIP TIME!

 

Now you all know the story. Hustling to find that job that doesn't exist anymore. Bank says "go suck an egg". Credit ruined.

Apr 23, 2013 5:30AM
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Its obviously in reference to the term length most people slave away to own a house. Then live in fear of layoffs and foreclosure in this volatile economy. If your not currently a home owner i wouldnt choose now to be one.This is my personal opininon of course...
Apr 23, 2013 5:06AM
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Hey batty83, I'd like to read 15 of your 30 reasons not to have get a mortgage at this time......
Apr 23, 2013 5:04AM
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As a real estate broker I concurr with the article.   At least in Arizona, the wave of foreclosures has pasted with that entity only 20 per cent of the market.   The supply of homes is down and prices up and climbing.   That's the facts, Jack!

 

Apr 23, 2013 5:00AM
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yes their pushing refinance instead of home equity loans to make big fees from people,and the credit bureus are keeping everybody,s credit ratings down so you can,t even get a home equity loan and you have to refinance,what a bunch of scoundrels,greed greed greed,should be illegal,contact the whitehouse by email and raise hell
Apr 23, 2013 4:17AM
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Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!
Get OUT of debt!!!!!!!!!!!!!!!!!!!!


Apr 23, 2013 4:06AM
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What a bunch of baloney as I look at our last Thursdays newspapers with 21 pages of foreclosure listings...I've been told by Realtors who work for National companies that they have been told to basically lie, lie, lie, lie, lie, about the economy and to push up the price of any house they sell to "get the most out of the buyers". Also O'Vomit is pushing for Refi's because then you will not get as much back next April for your Mortagage deduction and O'Vomit gets to keep more of it...Also many of the Top National Companies Boards were behind the "Bundling" of millions of dollars for O'Vomit..So the dishonesty of the Demoncrats has spread like a Cancer across the Country turning so many people into dishonest liars...and cheating you...
Apr 23, 2013 3:50AM
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11 reasons to get a mortgage right now? i can give 15 or 30 reasons not to.
Apr 23, 2013 2:57AM
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Skip it.....

Housing market, will crash again (when more foreclosed houses hit the market thus drive down prices), the financial market is not all that stable, and it is now better to rent than buy-to-own.
Apr 23, 2013 2:39AM
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Too much UNcertainty at this time. Mortgage mess is alive and  well.  Not to be resolved anytime soon.
Apr 23, 2013 2:27AM
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And 1 better reason not to get a mortgage right now...You do not want to be a DEBT SLAVE.
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