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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Learn about neighbors before you buy

Ohio.com | 09/14/2005 | Learn about neighbors before you buy: "We can't all live in Mr. Rogers' neighborhood. Nor would we all want to.
But neither do we want to discover after closing the deal on that cozy little Cape Cod that our new next-door neighbor is not Mr. Rogers, but is in fact Mr. Hyde. As in Dr. Jekyll and.
When shopping for a house, buyers take great care evaluating neighborhoods as a whole. But that doesn't mean they are asking the critical question: Will I like my neighbors?"
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Fed: Minorities more likely to have higher-rate mortgages

Fed: Minorities more likely to have higher-rate mortgages - Sep. 14, 2005: "Minority borrowers are more likely than white borrowers with similar incomes to get mortgages with higher interest rates, according to a report from the Federal Reserve.
But the study, published in the Federal Reserve Bulletin, cautions that more information is needed to determine whether discrimination or other factors are behind the differences seen in mortgage lending practices.
The study said that factors such as credit rating, loan value to home value ratios and other factors could account for much of the difference. Credit score information was not available in "
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20 great questions every home buyer should ask

Inman Consumer News: "If you are a complete novice home buyer, '20 Questions to Ask Before Buying a Home,' by Connie and Ronald Price, is a good place to start learning the basic home purchase fundamentals. The best parts of the book are the 20 key questions. While some of the answers are superb, other answers are vague generalities.
The authors, one of whom is a real estate agent and the other is a professional writer, seem to have intended to write a bland book filled with generalities and very little specific advice. Real-life examples would have greatly improved the book."
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Absence of inspectors imperils home buyers

Absence of inspectors imperils home buyers: "Regarding 'State out to nail bilking builders' (Sept. 4), it's disappointing that you didn't focus more on the need for a statewide building code, which would require every town to have certified building inspectors overseeing construction to a nationally accepted building code.
Several towns have adopted a national code and have certified building "
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When buying a home, worst house in best neighborhood a good buy

Lansing State Journal: When buying a home, worst house in best neighborhood a good buy: "NEW YORK - Unless you're sure that the house you are about to buy will be your last, select one that not only appeals to you but also stands to be a worthwhile investment. Whether it's a starter home or an estate, the same factors will affect the resale value:
Neighborhood. Location is essential. For resale value, the worst house in the best neighborhood is far better than the best house in the worst neighborhood. Also, parents are willing to pay a steep premium for a house in a school system that has an excellent reputation and an outstanding record of college placement"
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AVOIDING NASTY REMARKS FROM BUYERS WHEN YOU SELL A HOME

uExpress.com: Smart Moves by Ellen James Martin -- (10/20/2004) AVOIDING NASTY REMARKS FROM BUYERS WHEN YOU SELL A HOME: "In his 30 years selling homes, Tom Early has escorted more than 1,500 homebuyers on property tours. So he knows just how candid unimpressed buyers can be when sellers are out of earshot.
The most stunned reaction Early ever heard came from a real estate investor who toured a three-bedroom, ranch-style house in a solid, middle-income neighborhood served by strong schools.
After seeing the squalid state of the property, the investor stepped out the front door and exclaimed to Early: 'Oh my God, I can't believe anyone could live like that!'"
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