People in search of real estate bargains may find themselves considering foreclosures. Foreclosed homes have been seized by a lending bank after a homeowner has defaulted on their mortgage. Although not as common as during the real estate crisis of 2008, foreclosures still happen all over the country.
It’s not news that buying a house is a big financial investment. But many first-time buyers wonder if buying a home is worth it. They wonder how long it will take before breaking even compared to renting. The St. Louis region actually has one of the shortest break-even times in the country.
Taking on a mortgage, especially as a first-time homebuyer, can be intimidating. Finding out that it can lower your credit score can be downright stressful. It’s a bit of a “Catch 22”: You need good credit to buy a house, but buying a house lowers your credit.