Credit card debt may hinder first home purchase

SouthBendTribune.com: Credit card debt may hinder first home purchase: "It's no secret that high gas prices are taking a bigger bite out of consumers' wallets these days, as are expenses tied to health care and education. But that doesn't lessen the zeal many renters have for the idea of owning a home.
'No matter how challenged people are financially, owning a home remains one of the basics -- a first building block in the American dream,' says Sid Davis, author of 'The Survival Guide for Buying a Home.' He says the sacrifices to buy a home can be daunting, but the rewards are substantial.
Although would-be homebuyers have greater access to low or no down payment mortgages than ever, many must first slash the debt they've accumulated to qualify for a home loan on a typical starter property."
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