Agent

5 real estate tips to guard against losing your home

Mood of the Market

Time and time again, I hear homebuyer wannabes state that the reason they are still fence-sitting is that they don't want to end up in the same trouble the last generation of homeowners did.Well, I say, there's a very slim chance of that happening, given the changes in the market climate: Homes are at rock-bottom prices (not sky-high), and mortgage guidelines are so conservative it is nearly impossible to even find one of the zero-down, quick-to-adjust, stated-income mortgages of yesteryear. With that said, though, there is a handful of rules today's homebuyers and homeowners can follow to dramatically minimize the chances they will ever face losing their homes: 1. Never a borrower or a lender be. OK, so maybe NEVER is strong, but you'd be surprised at how many foreclosed homeowners actually bought their homes with conservative loans and at low prices many years ago, but got into trouble taking new mortgages and pulling cash out at the top of the market (then not being able...

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