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photo credit: roarofthefour

Many people are interested in buying a home right now while housing prices across the nation are low. However, they have learned their lessons from the problems of the recent past and definitely want to make sure that any home they do buy is a home that they can actually afford. It’s obviously important to figure out what you can realistically afford to pay for a home so that buying a home doesn’t get you in to big financial trouble. Unfortunately this type of important assessment isn’t actually that easy for the average person to figure out. Following you’ll learn about the different things that you need to look at when you are trying to determine how much home you can afford to buy. (more…)

credit: Burning Image

An interesting article over at Bigger Pockets recently drew a connection between the increasing cost of gas and the faltering housing economy. In short, it pointed out that as more and more of your money goes to the gas tank, you have less money to invest in real estate property (and to pay the mortgages on already-purchased homes). The author also noted that the cost of housing construction is on the rise as a direct result of the fact that building companies have to spend more money on gas when transporting materials and laborers to job sites.

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credit: EverySpoon

There is a new loan option available to people which is being advertised as an alternative to the reverse mortgage loan. It is called the REX loan. The main difference between the two loans is in the ownership of the home. With the reverse mortgage, you remain the owner of your home but you use home equity to receive income payments. With REX, you essentially enter into a partnership that says you will split the proceeds of any future home sale with the company that has partnered with you.

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