Buying a House or a Home?

A house is just that, a house, until someone lives in it. That's when it becomes a Home. There's a big difference. At our house, we always say our home is "well lived in." And, with a family of six, four of them being between the ages of 9 and 15, this house has no choice! Our house, being in the family for over 65 years, is a well seasoned "home."

Who wouldn't love to live in a luxurious home with all the newest gadgets and high tech inventions? Well, I would venture to guess that most of us have thought of it. But, what's really important when you consider buying a home?

If you're a seasoned home shopper you may already have learned from experience what type, location, and price of home is good for your family. Setting some guidelines and priorities is a good way to start the hunt. First, make a wish list. This is a great starting point for anyone and will help get your priorities in order! Knowing what you want or need is half the battle.

This will include some essential questions you need to ask yourself also like, what you can afford?, are you willing to do renovations and how much?, and lists specific needs for your family.

Location, Location, Location...

Location can be flexible for some families, but must be specific for other families. Work, disabilities, and children are just a few factors that can influence location necessities or desires. For instance, if you don't want to commute long distance to work you will need to consider travel time to work. If you or a family member have disabilities that require special treatments or services, you will need to consider travel time to current providers, or consider availability of services in the new location. Local schools, and their reputations, will play an important role in location for those families with children, as well as neighborhood safety.

Affordability

There's no satisfaction in qualifying for a loan that you can't afford! Consider your other obligations and how the new payment will affect your budget.

Sometimes, scrupulous mortgage brokers and lenders don't really consider if you can actually "afford" the loan for your home. They boast that they can get "anybody" a loan. That's easy when you don't really care about the final results. Besides, it's a secured loan, which means, your commitment is secured by your property. They'll simply take your home if you don't meet your commitment. So, be careful. Always use a reputable company for your mortgage needs. They may not tell you what you want to hear, but they'll look out for your best interests.

GinnieMae.gov has a calculator to help give you some idea how much you can afford. Always live within your means to prevent self-created financial disasters.

When you know what you can afford, shop and compare. Hud offers a great home buying booklet at http://www.hud.gov/buying/booklet.pdf, Looking for the Best Mortgage, that answers questions and prepares homeowners for the mortgage shopping experience. There is even a form for you to keep track of home loan comparisons.

Don't be a Victim of Loan Fraud

The Federal Citizen Information Center warns consumers to protect themselves from predatory lenders! Before you make a final decision, take the time to review the 11 Tips on Being a Smart Consumer at http://www.pueblo.gsa.gov/cic_text/housing/loanfraud/loanfraud.htm

When looking for a mortgage, don't forget to ask about specialty loans. You may qualify for specialty loans if:

• You're a Teacher
• You are purchasing a home that needs remodeling.
• You are a first time buyer

HUD answers 'Common Questions from First Time Home Buyers" at http://www.hud.gov/buying/index.cfm

Whether you're buying your first home or growing into a new home, you'll be successful if you take your time, know your priorities, and research all your options!

Happy Hunting. May the "House" you choose become a happy "Home!"

Cheryl Johnson is a mother of four helping herself and others become and remain debt free. Publisher of Simple Debt Free Living the Personal Budgeting and Debt Management site at http://www.simpledebtfreeliving.com - A self-help plan, ideas, and resources for budgeting, debt management, frugal living, and extra income opportunities. Money saving tips For groceries, clothing, gifts, home decorating, and buying a home.

---

Google News Updated : Tue, 07 Oct 2008 20:50:00 GMT Axelrod Says Obama Will Counterpunch if McCain Raises Ayres - New York Times Axelrod Says Obama Will Counterpunch if McCain Raises Ayres New York Times - 2 hours ago By Patrick Healy NASHVILLE - Senator Barack Obama is prepared to hit back, including with Keating Five scandal if necessary, if Senator John McCain uses tonight’s presidential debate to attack him over his associations with controversial figures like ... Video: AP Campaign Minute AssociatedPress Palin Adds Fannie Mae Execs to List of Objectionable Obama Associates Washington Post The Associated Press - U.S. News & World Report - FOXNews - Christian Science Monitor all 4,761 news articles Publ.Date : Tue, 07 Oct 2008 18:32:14 GMT Fed Announces Plan to Buy Short-Term Debt - New York Times Telegraph.co.uk Fed Announces Plan to Buy Short-Term Debt New York Times - 58 minutes ago By EDMUND L. ANDREWS and MICHAEL M. GRYNBAUM WASHINGTON - The Federal Reserve announced a radical new plan on Tuesday to jump-start the engine of the financial system. Fed makes boldest move yet Christian Science Monitor Federal Reserve to buy up short-term commercial debt Los Angeles Times Bloomberg - NECN - The Associated Press - Wall Street Journal all 1,716 news articles Publ.Date : Tue, 07 Oct 2008 19:51:44 GMT Fitch says AMD factory move has no ratings impact - Forbes Canada.com Fitch says AMD factory move has no ratings impact Forbes - 51 minutes ago AP 10.07.08, 3:48 PM ET Fitch Ratings said Tuesday Advanced Micro Devices Inc.'s ratings are not affected by the chip maker's plans to spin off factories into a new joint venture with investors in the Persian Gulf state of Abu Dhabi. What AMD's fab spinoff means for Intel, industry MarketWatch Who Benefits From AMD’s Financial Engineering? New York Times The Associated Press - BusinessWeek - Motley Fool - Bizjournals.com all 656 news articles Publ.Date : Tue, 07 Oct 2008 19:58:11 GMT Study: Using fan on sleeping baby reduces risk of SIDS - San Jose Mercury News dBTechno Study: Using fan on sleeping baby reduces risk of SIDS San Jose Mercury News - 8 hours ago By Linda Goldston Ayde Gonzales's mother was surprised when she insisted that her newborn son must sleep on his back, not on his side. Fan Use May Save Your Baby’s Life, Reduces SIDS Risk eFluxMedia Fan in Room Seems to Cut Infants’ Risk of Crib Death New York Times Bloomberg - Wall Street Journal - U.S. News & World Report - WebMD all 612 news articles Publ.Date : Tue, 07 Oct 2008 12:46:19 GMT Get moving: Guidelines set healthy activity levels - The Associated Press ABC News Get moving: Guidelines set healthy activity levels The Associated Press - 38 minutes ago WASHINGTON (AP) - Get moving: New exercise guidelines released Tuesday set a minimum sweat allotment for good health. For most adults, that's 2 1/2 hours a week. Government tells Americans to take stairs, go out and play Bizjournals.com Get 2 1/2 hours of exercise per week, US says Reuters USA Today - Food Consumer - MarketWatch - MyFox Dallas all 183 news articles Publ.Date : Tue, 07 Oct 2008 20:11:51 GMT Kenya deports anti-Obama author - Christian Science Monitor BBC News Kenya deports anti-Obama author Christian Science Monitor - 4 hours ago Jerome Corsi, author of "Obama Nation: Leftist Politics and the Cult of Personality," tried to launch his new book, but violated immigration rules, Kenyan officials say. Barack Obama's African grandmother Sarah Onyango Obama roots for him Times Online Anti-Barack Obama author detained while promoting his book in Kenya Los Angeles Times AFP - The Associated Press - New York Times - BBC News all 507 news articles Publ.Date : Tue, 07 Oct 2008 16:09:55 GMT Union-Backed Party Opposes Term Limits Plan - New York Times New York Daily News Union-Backed Party Opposes Term Limits Plan New York Times - 1 hour ago By Fernanda Santos The Working Families Party began on Tuesday the labor community’s first major offensive against Mayor Michael R. Bloomberg’s plan to change term limit laws through legislation that would extend to three, from two, the number of terms ... UPDATE 1-NYC lawmakers to weigh bill raising term limits Reuters Bill to end term limits introduced in City Council New York Daily News New York Times Blogs - WNYC - Campaigns & Elections - Crain's New York Business all 331 news articles Publ.Date : Tue, 07 Oct 2008 19:15:23 GMT RSS Software Increased Web Site Traffic

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

Reverse Mortgages: When Is One Right For You?

How do you know if a reverse mortgage is right... Read More

Build Your Own Dream House!

So you're thinking about building your own house, are you?... Read More

Adjustable Rate Mortgages - Understand the Benefits Compared to a Fixed Rate Mortgage

Adjustable rate mortgages can be very tempting to home buyers,... Read More

Mortgage: For Those Twilight Years

Tracing back, the concept of reverse mortgages began when one... Read More

Secured Homeowner Loans to Reiterate that a Home Provides More than a Roof Over Your Head

"The ache for home lives in all of us, the... Read More

Homeowners? insurance: The mortgage connection

A home owners' insurance is the cover for the house... Read More

Recent Bankruptcy? Its Not Impossible to Obtain a Home Loan

Because the new bankruptcy laws go into effect on October... Read More

Home Loans

Buying a home remains the great American dream. Home ownership... Read More

Choosing a Mortgage Lender

Just as there are many types of mortgages and mortgage... Read More

Reasons To Get A Home Equity Loan

Using a home equity loan really depends on what your... Read More

Understanding Mortgage Points

When a mortgage broker asks a borrower to pay points,... Read More

Poor Credit Home Equity Loan Tips

A home equity loan can help repair your poor credit... Read More

Applying for a Home Loan

Applying for a home loan may not be the most... Read More

Mortgage Advice

In the US today more households have mortgages than ever... Read More

Bad Credit? First Time Buyer? You Can Still Get Approved For A Home Mortgage Loan

Do you have bad credit that you worry will stop... Read More

Jumbo Home Mortgage Loans - What They Are and Where To Get Jumbo Loan Financing

A jumbo mortgage is different than a conforming loan. A... Read More

Selling Your Business Note

Before I go further, let me ask a question- if... Read More

Do Your Homework - Find the Mortgage That Fits Your Lifestyle and Your Budget

You've been looking at houses for months, and finally you've... Read More

How to Find the Lowest Rate Possible!

The quest is on! You're in the market for a... Read More

Mortgage Loan Most Bankers Wont Give May Be Exactly What You Need to Buy or Refinance Your Home

A few years ago, a loan officer who worked for... Read More

Why Choose a Home Improvement Loan?

Many people choose to take out home improvement loans so... Read More

Home Equity Loans

Home equity loans are a popular way for homeowners to... Read More

Zero Down Mortgage Loans - Is 100% Financing a Good Idea and Can You Get Approved?

Are you wondering if you can get approved for a... Read More

What Are Home Equity Loans?

A home equity loan is simply borrowing on the difference... Read More

Home Equity Loan Considerations

In other words, the benefit of the loan must outlast... Read More