Housing Market To Jump Back In Or Not

by Annemarie
(Indiana)

Regarding Housing Market To Jump Back In Or Not: To jump back in or not? So, the government is attempting to coax us back into the housing market by offering tax incentives. Does that mean that you should jump back in?

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While having a home is a great way to build overall wealth, it is not a free ride. You should consider several things before signing that mortgage. First and foremost: Can you afford to buy this house? Sure its nice and you would love to own a house, but you don't want to end up a foreclosure statistic due to poor planning.

The market is good right now if you are looking for inexpensive housing. The record number of foreclosures have left many reasonably priced houses on the market. You should also consider other effects of home ownership such as maintaining costs and commute changes.

Owning a home is the American dream. Tax credits can help you defray the property taxes.

If you can afford it, really afford it, it is still a good time to own a house.

Kate Answers: Housing Market To Jump Back In Or Not

Dear Annemarie, I echo your views on homeowners needing a plan. Thanks for your submission.

Three great ways for homeowners to plan:

How Much Can I Afford In A Mortgage

Subprime Mortgage Loans - Solutions For US Homeowners

8 Strategies To Stop Mortgage Foreclosure

As a sidenote, Annemarie, you just created your own webpage. Please feel free to share it with your friends who can write a page of their own.

Sincerely,

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P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.

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