buying a home...need cash


Thursday, September 18th 2008, 5:45 pm
By: News 9


Hey there..

Hope you are doing well... Walll Street has us all wondering what may come next?  While the market seems uncertain... one thing we do know is the way people are going about getting a home loan is changing.  If you are in the market for a new home... good news and bads news.

The good news is interest rates are down.. the bad news is you most likely will have to have a cash down payment ... and actually be able to afford the home you are buying.  Vince Orza... Dean of the Meinders School of Business at OCU says the way people go about borrowing money is changing... it will be harder to get a loan.  If you are a first time home buyer... Cash is King... Orza says no more financing 100% of the loan.

And getting a loan at a good rate.. requires good credit... on my next blog how to improve your credit score.. and the myths that may be preventing you from increasing your score.

The good book says God has not given us a spirit of fear.. but power ... love and a sound mind.

Keep sound...

Robin