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Silver Standard (America is a welfare queen superpower) from Canada writes: Well guys in a few years I will finally be able to afford a house. I remember earlier this year I was insulted on this forum for saying such a thing. Prices are going to fall ...

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Housing slump deepens as prices drop most in 26 years - Globe and Mail

For years, Mike and Kelly D'Addeo planned to use their trove of Intel Corp. stock options to send their son Tony to a top college. Tony would be a good candidate for any school: He's a straight-A senior at Bowie High School and captain of the ...

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College choices get harder with downturn - Austin American-Statesman

Aged pensioners will get one-off bonus payments Carers and some families will also get bonus money Calculator : Work out a savings plan IN a little over five weeks, the lucky Australians singled out by the Government for a Christmas bonus will start ...

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Put bonus money to good use - News.com.au

Whether you're a house-buying novice taking your first tentative step on to the property ladder or an old hand seeking the perfect home for your retirement, the same principles apply. The golden rule is that you need to achieve the right balance ...

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Choosing the right home - This is Money

Gen Y has not been through a downturn before Start saving and planning early Calculator : Work out a personal savings plan YOU have the world at your feet in your 20s. The biggest thing going for you is your age but the world is changing and an ...

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Problems loom with 'save later' attitude - News.com.au

The national real estate bust has ejected families from their homes, jammed credit markets, and shackled the broader economy. But for potential buyers, the housing pain has come with a key upside: increased affordability. The S&P/Case-Shiller Home ...

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5 Considerations Before You Buy a Home - US News and World Report

Mortgage giant Abbey has raised the cost of tracker mortgages just two days before a widely predicted bank rate cut. Abbey has hiked the rates by up to 0.5% for new borrowers on its two and three-year tracker mortgages, which automatically move in ...

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Abbey hikes tracker mortgage rates - This is Money

First-time buyers face the toughest struggle for nearly 30 years to get a home of their own, official figures confirm. The latest statistics from the Council of Mortgage Lenders showed that lenders are demanding an average deposit of 16 per cent ...

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First-time buyers face toughest time in 30 years to get a mortgage - Daily Mail

House prices plunged at a new record rate during the year to the end of September - losing 13.2% of their value, Britain's biggest mortgage lender said today. The fall was the biggest ever recorded by the Halifax house price index, which posted a ...

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House prices fall at record rate - Metro.co.uk

The cost of the average home will drop £50,000 from a high of just below £200,000 last year to about £150,000 by December 2009 - the same as in 2004. Prices fell 1.3 per cent in the past tumultuous month, giving an overall fall of seven per cent ...

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Mortgage Affordability Calculator Questions and Answers

Resolved Question: Why do home affordability calculators come back with such a small number?

When I enter information into a calculator on any website that offers them, it comes back saying I can only afford to pay a mortgage of 300ish a month. I currently pay almost 700 a month in rent and I'm fine, and I could pay higher and still be FINE. Where are they coming up with this? If I were to go talk to a loan officer at a bank, would they do something similar and only approve me for a very low amount? I mean, I could probably pay the amount their saying I could afford 3 times in a month. A little info here. I was calculating the gross income (which would include myself and my fiance together) at about 3500, total debt payments required each month at 500 (not including mortgage/rent related expenses). And the number it came back with in the 300s. Someone please enlighten me, maybe I'm missing why they think I'm so destitute. I'm really only trying to be approved for a 110,000 loan. Also eligible for VA loan if that helps.  more

Resolved Question: Does it hurt you to not use a pre-qualification for a home?

I want to purchase a home but I am hesitant to apply for a mortgage because I dont know how much I can qualify for. If I couldnt qualify for more than $150,000.00 I wouldnt be interested in using the loan. Does this hurt your credit? I havent found home affordability calculators to be very helpful they always give me a different number.  more

Voting Question: What are lenders ratios for morgages just for PITI?

I'm just looking for the lower ratio.. the one that just takes in to account PITI, not including other loans, because I don't have any debt. I saw on a mortgage affordability calculator that it is 30 or 30/39. Is 30% normal or can you go higher? I don't take on car, credit card, student loans, so I think I can afford higher for the lower number. I'd be putting 20% down.  more