C HAPTER 7. Selecting and Financing Housing. Or Home, Sweet, Home!. A third of Americans now spend at least 30 percent of their income on housing − the federal definition of an “unaffordable” housing burden (The Washington Post, August 2006) . Evaluating Housing Alternatives.
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Selecting and Financing Housing
Home, Sweet, Home!
A third of Americans now spend at least 30 percent of their income on housing − the federal definition of an “unaffordable” housing burden (The Washington Post, August 2006)
Don’t forget renter’s insurance!
The lease exists to protect the Landlord!
Bottom Line: A House is a Home First, an Investment Second
Do you own your own home?
Of those who don't own, do you plan on purchasing a home in San Diego?
“Please, God, let there be another real estate boom and I promise I won’t piss it all away this time!”
In 2003, there was an effort to create a standardized method for pricing home loans. The industry shot it down. But after the recent debacle in the home loan industry, the home loan reform advocates finally got their way. http://www.latimes.com/business/la-fi-perfin29-2009nov29,0,6612155.column
Should I pay off my mortgage early?
Closing the Purchase Transaction
Insist on a “walk-through”
It definitely pays to shop around for title insurance. Do not assume the company your real estate agent suggests will give you the best price.
On a $300,000 mortgage, you can spend almost $148,000 less with a 15-year loan.
But that means coming up with an extra $699 each month.
Let’s do some exercises.
Don’t get too depressed…