Dating S.O.S

The ultimate thing a couple could ever shop for, aside from a baby, is their first home. With the recent lending crisis, it seems more of us couply-people might end up living with the parents for a longer time than we’d like. After all, who is still lending money to home buyers?

Interestingly enough, some institutions are. The housing crisis is not a crisis everywhere, and in some places mortgage rates have actually increased. This does not mean mortgage money may be hard to come by in the coming months: most banks are busy with their write-offs and trying to plug the money holes they themselves created. However, this does not mean there is no hope! Keep shopping for that dream home for you and your spouse, because as mortgages become harder to get, there will be less buyers on the market and with the general housing slump prices could actually be looking quite attractive. If you are an attractive candidate for a loan, it shouldn’t be too difficult to find a bank willing to give mortgages to good clients. Married people with stable jobs and good credit rating are always attractive. They could surely use the cash flow you and your spouse might be able to provide.

Don’t forget to look into foreclosures. With the housing market slowing down and less people buying while more and more are defaulting on their mortgages, there are bound to be more homes up for grab at deep discounted prices. In this case it helps to be preapproved for a mortgage before you shop with your spouse.