| 40 Year Mortgages are on the way, are they right | | | | have seen and economists will tell us that in some |
| for you? Some mortgage companies are now | | | | sectors (a lot of job market sectors) real income has |
| offering a 40 year mortgage. For the first time home | | | | gone down and that effects your ability to pay your |
| buyers and move up buyers this could be just what | | | | mortgage with the increases and every other thing |
| you need to get into the house of your dreams. | | | | including food. |
| Some things to consider on your next home | | | | *The average home owner moves every 5 - 6 |
| purchase. | | | | years. This next home purchase will in all likelihood not |
| * Folks can remember when their parents told them | | | | be your last. As your situation changes it will be time |
| not to sign that 20 year mortgage because they had | | | | to move to the next bigger home in a nicer |
| a 10 or 15 year mortgage and that was long enough | | | | neighborhood and then again and again until it's time |
| for anyone. Then along came the 25 year mortgage | | | | to stop or trade down. Take your time your first |
| and then the 30 year mortgage. All came about | | | | house won't be your last house unless you stretch to |
| because the increasing home prices and it allowed | | | | far away from a real livable budget and fall into |
| you to buy more home for your money. The same is | | | | foreclosure. |
| happening with the 40 year mortgages. | | | | The new fixed rate mortgage of 40 years can be |
| * During the past few years it has been the buy | | | | just what's needed to help families with the high cost |
| down rates that have helped families stretch to their | | | | of housing. This may help the hard working people |
| new home and low down or no down loans. On close | | | | who can not afford to live in the town in which they |
| inspection I think you will find that these programs | | | | work. |
| were not the best for everyone including the | | | | Bill Carey with over 30 years in real estate sales, |
| mortgage companies and banks. | | | | investments, and home building offers a unique |
| * Buying a home with a loan which has incremental | | | | perspective to the buying and selling process of |
| increases in the interest rate may not seem to be a | | | | residential real estate for F*R*E*E consumer |
| bad deal when the buyers qualify at the lower | | | | information and reports log on to and see |
| interest rate. But what about when the rates go up | | | | "Insider Real Estate Secrets Revealed" |
| each year and they are totally unqualified three years | | | | ...a must-read for Home-Owners and Renters! |
| later for the higher rate, who does it help. Not the | | | | It's a F*R*E*E 12-lesson e-course covering more than |
| home buyer. Check out the foreclosures in your area | | | | 20 topics exposing the realities behind buying and |
| you may find that a good amount of them are | | | | selling a home. |
| homes sold in the last 5 years. | | | | It Could Make(or Save) You Thousands of Dollars |
| *New home buyers consider this it may be best for | | | | See and sign up for our monthly e-newsletter with |
| you to stay within a real budget and not gamble on | | | | tips for buyers, sellers, home owners and soon to be |
| future pay raises, promotions or appreciation. We | | | | home owners. |