Starting March 1st, Fannie Mae and Freddie Mac are implementing new rules for a Deed-in-Lieu of Foreclosure program. Bloomberg relayed some of the details a few days ago. While the program seems promising for those currently trapped in their homes, there are a few things you want to consider before signing on to the program.… Continue Reading
Category Archives: Buying Your First Home
The Hidden Costs of Renting
There is no such thing as a hidden costs to homeownership. When you own a home, no repair, maintenance nor service is charged to you unless you give someone permission. Your name goes on the bill, the bill gets mailed to your house and then you pay the bill out of your bank account. Renting, on the other hand, comes with seemingly endless hidden costs. When charges mount, no bill is presented – and no permission is asked. You pay your rent and rent increases blindly, without reason or explanation.… Continue Reading
Buying Your First Home: Is Hatred for Renting a Good Reason to Buy?
As many of you know, my wife and I planning to buy our first home in about two years. We are already saving up a down payment and figuring out how much of a house we can afford. You know, all the things that young adults SHOULD do when buying their first home. Who wouldn’t want to be prepared? Yet, as I make the preparations and plans, I can’t help but wonder if my hatred for renting is causing me to jump into home ownership for all the wrong reasons.… Continue Reading
Buying Your First Home: How Much House Can You Afford
The other day my wife and I were dreaming about our future home. Since we are planning on buying our first home in a couple years, we are already making the plans. It’s never too early to start saving the down payment. The conversation drifted towards what kind of house we will look to buy.… Continue Reading
Buying Your First Home: How to Save Up a Down Payment
As a result of my parents owning a home, I have always know that home ownership is for me. That and the 4 years of renting is enough for me. I’ve had enough. While it is our only option at the moment (and will be for the next 2 years or so), my wife and I are looking forward to buying our own home.… Continue Reading
