I was just reading an excerpt that gave reasons why a person should rent instead of buying a home. I agree with this statement to rent only for people first starting out in a new job or a new relationship. But realistically renting is like throwing your money away because you see no return on the money you pay out every month.
The United States tax policy rewards house buyers who borrow, not renters. The “dream of homeownership” gives hope and the goal of a future endeavor. When couples first wed they dream of starting a family and that dream of owning their first home.
I find it amazing that anyone would suggest that people should rent instead of ever buying, he must be an investor making money off people who are renting. It takes a special set of people to go out on the limb and purchase the property for others to rent.
I would like to hear what your thoughts are on whether it is time to Rent or Purchase a home. Whether you choose to rent or purchase a home I will be glad to assist you in your housing needs www.PattiMace.com.
Are you in need of Foreclosure Assistance
NeighborWorks/HOPE NOW/Homeownership Preservation Foundation Hotline
Homeowners facing foreclosure can call a tollfree hotline at (888) 995-HOPE, 24 hours a day, 7 days a week.
Federal Housing Administration
Government-insured refinancing for credit-worthy borrowers who went into default after their ARMs reset may be available by calling (800) 225-5342 or by visiting http://www.fha.gov.
Other Resources
Avoid Foreclosure Rescue Scams
Federal Trade Commission
Equity Stripping & Loan Flipping – If you agree to a loan that’s based on the equity you have in your home, you may be putting your most valuable asset at risk. Certain abusive or exploitative lenders target borrowers, who unwittingly may be putting their home on the line. These abusive lending practices range from equity stripping and loan flipping to hiding loan terms and packing a loan with extra charges.
Foreclosure Rescue
MassHousing
Foreclosure Resources for Consumers
Federal Reserve Board of Governors
HomeOwnership Preservation Foundation
