Home Loans in a Bad Economy

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<h1>Home Loans in a Bad Economy</h1><strong> Author: <a href='http://www.articleseen.com/profile_Brad Cullipher.aspx'>Brad Cullipher</a></strong><br /><p> The recession and recent difficult economic times over the past several years have put horror stories in to the minds of many people considering home loans. We are constantly hearing horror stories of friends and family being foreclosed on, seeing the realization of balloon payment loans, or being turned down for equity loans. Many Americans are feeling the strain of being upside down on their homes even though they have put years and years of payments towards their homes. Although it has been a very difficult few years, many people who are financially solvent right now are able to take advantage of this stressful situation and get into a home for a reasonable price at a great interest rate. There are several reasons why now may be a good time to get into a home loan if you are a new home buyer, or if you have been a solid payer on your current loan but are ready to upgrade to something new. For those folks who have maintained their good credit through the past several years, now may be the best time to buy, and here are a few reasons why. First, housing prices are at a low point, at least as far as researchers are concerned. We will never go back to prices similar to those over ten years ago because of the quickly rising market that increased home values to an exorbitant level. But what researchers look at is where the bottom of the market seems to be, and it seems as though it may be now. Homes are starting to sell again, and people are starting to gain a bit of equity back. Now is the time to buy if you are ready, before the market starts making a comeback. Secondly, there is a government tax refund happening right now if you buy a home. At first, this started as a first time home buyer tax credit, where buyers needed to repay a certain amount per year until the 0% interest “loan” is paid off. The government then changed it to be a tax refund, meaning it is not required to be paid back. Then, to stimulate the market even further, they expanded it to allow people who had previously bought a home to see some of the reward. It is important to consult with a mortgage or tax professional to fully understand these tax benefits, but the government has tried to encourage people to get back to buying which is why these programs came about. Lastly, people with good credit are being rewarded. For so long, mortgage carriers were giving mortgages to people who shouldn’t have had them. Then, the market was so strict that barely anyone could buy a home. Now, things are settling down, and people with good credit are being rewarded with easier to get loans at interest rates that are lower than those throughout about the last 30 years of history. For those who saved money and are ready to buy, now is the best time to qualify for good home loan programs that previously may not have been available.</p><strong>About the Author:</strong><br />American Capital Home Loans is your professional mortgage company specializing in home loans, mortgage, refinancing, reverse mortgages, debt consolidation, and home equity loans. Serving Austin, <a rel="nofollow" href="http://www.mymortgagedallastexas.com">Dallas Mortgage</a>, Houston, San Antonio, Ft Worth, and all of greater Texas.<p> Article Source: <a href='http://www.articleseen.com/Article_Home-Loans-in-a-Bad-Economy_12935.aspx'> http://www.articleseen.com/Article_Home Loans in a Bad Economy_12935.aspx</a></p>

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Keywords : Fort Worth Mortgage, Houston Mortgage, Dallas Mortgage, Dallas Refinance, San Antonio Mortgage,

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