Renters pay more each month than homeowners

But WHY?

Renters now spend five percent more of their household budgets on housing costs than do homeowners, and the difference is growing as rents rise.

Since 2005, homeowners’ expenditures for housing have risen from 31.9 percent of their household budget to 33.2 percent, but renters’ costs have risen even more from 35.6 percent to 38.4 percent, according to the October CoreLogic U.S. Housing and Mortgage Trends.

Since 1985, homeowners have increased their housing expenditure allocation by 12 percent, while renters increased by 22 percent.

For a first time home buyer to buy in this market it will take a very compelling reason(s) to take that big step. 

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How first time home buyers can avoid real estate scams

The state of the current real estate market has brought out a number of real estate scams that have targeted first time home buyers and renters.
First time home buyers are especially susceptible to scams, because they've never been through the process and it makes it easy for scam artists to separate them from their hard earned money.
Here are some tips from the Better Business Bureau on how to avoid scams.

• The email addresses they use usually are from yahoo, ymail, rocketmail, fastermail, live, hotmail and gmail, 
• They also post ads under anonymous craigslist addresses. 
• They frequently change their aliases.

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First time home buyers credit to dispute or not to dispute?

That is the question, and for first time home buyers the answer is not always what you think.
First time home buyers have the legal right to dispute any inaccurate information on their credit report, but as this video shows there's a right way and a wrong way.
Here are 10 important things for you to know when it comes to disputing items on your credit report

If you have items to dispute, it's crucial that you NOT do it while you are in the process of your first time home buyer loan. It can result in an approval turning into a denial because of those disputes.

For more information Contact Us, or if you would like a referral to a credit repair specialist who can help you do things the right way, Click Here

Other videos in the series:
Setting your credit score goal
Don't be afraid of the monster under the bed
Setting your action plan
Know your options