| A good education leads to a great-paying
| |
| | It would appear that the strain of owning
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| career; job security affords the dream of
| |
| | your own home is inevitable. Existing
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| owning your own home becoming a reality.
| |
| | homeowners with Adjustable Rate Mortgages
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| Sounds good, doesn't it?
| |
| | (ARM's) should expect to see an increase
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| Once upon a time, that was more than
| |
| | in their monthly mortgage payments,
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| likely an achievable dream. These days,
| |
| | especially once the initial fixed-rate
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| however, with housing costs devouring
| |
| | period ends. And, those homeowners who
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| about 70% of an individual's gross
| |
| | want to sell or re-finance will find it
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| income, keeping a roof over one's head
| |
| | more difficult to get a loan now that the
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| may be the most we can do... never mind
| |
| | real estate market is softening, and the
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| owning the house!
| |
| | mortgage industry is plagued with
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| Being employed, does not offer the same
| |
| | problems.
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| security to families that it did during
| |
| | Cities like Stockton, and Long Beach, in
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| our grandparent's era. The cost of living
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| | California, and Miami and Fort Lauderdale
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| is not compatible with surging home
| |
| | in Florida seem to have the highest
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| prices; health care; property taxes;
| |
| | percentage of homeowners paying between
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| insurance; education... and, on and on,
| |
| | 30% - 50% of their incomes on housing.
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| and on.
| |
| | With a population of 300,000 in Stockton,
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| After you have paid the excessive amount
| |
| | California, to date there have been over
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| of income required in order to live in
| |
| | 8,000 foreclosures in the past 8 months!
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| your own house there is not much left
| |
| | If you are a potential homeowner educate
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| over for necessities (let alone life's
| |
| | yourself about the market. Learn about
|
| little luxuries)!
| |
| | adjustable rates, refinancing, and
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| Housing crosses the threshold of being
| |
| | pre-payment penalties.
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| un-affordable when you are spending 30%
| |
| | Having a dream is a necessity in order to
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| or more of your "before tax-income;" yet
| |
| | achieve goals; home ownership should not
|
| almost 40% of U.S. homeowners with a
| |
| | become a stigma attainable only by a
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| mortgage are living that reality. And,
| |
| | select few.
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| over 7 million households are spending
| |
| | Don't let your dream become a living
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| 50% of their gross monthly income on
| |
| | nightmare! Own a home; but only if you
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| covering their home loan, and basics,
| |
| | can afford it!
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| like utilities.
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| |
|
