Need Advice With First Home Purchase........
I am trying to get into a house in california orange county to be exact. I have been saving for soem time and have little to show for compared to todays inflated pricing at least in the bracket of income that i make. I was approached by one of these www.homewardgroup.info people and they said for 3k up front and paying the mortgage for 6-8 months I could own my house. I have enoguh money saved up to pay the 3k up front and 8months of payments but if its to good to be true it usually is. My main problem in purchasing a house is that they are from 450k +. As it stands I am curreently paying 1400.00 rent a month and feel as thoguh I am throwing money away. My wife and i are trying to get a house desperatly and have been saving for some time. But we fear that we wont be able to make a 3k payment after a years period of time because it would put us in the hole which is the last place we want to be. I feel like I am struggling beyond a doubt to make ends meet and am curious if there is any assistance in find some way to get started with some sort of investment so I can get moving forward with my life. Please let me know if anyone in the world can help as I am really chomping at the bit to get things moving rather than feeling stagnent. Its very hard to start a family paying rent having no yard and not knwoing when the owner of the place could sell. I would love to see my money go into something liek the roof above my families head. Thanks and sorry for the long winded questions here. I am 24 trying to get a start in the world of success. Thanks
Randomact:
I'm happy to see that your looking at buying your first home. I'm a licensed RE agent so I know what's what.... First: Find a good RE agent that's willing to work with you. Interview a few on the phone and request their assistance to making your dreams come true with Home Ownership. I can't validate the "homewardgroup" stuff. I believe that this is a scam. $3000 up front, plus 6->8 months of payments,: when's the last time you purchased a Car with these kind of terms? I've helped people get into their first house, and it takes work. You need a RE Agent that will work with you. It might take months, so establish a relationship (Friendship) with an agent. Second, have your RE agent match you with a Mortgage Broker - they help make the financial aspect of home buying happen. You might have to start out with a "fixer" or a townhome, condo, etc. These are "steps" to your goal to owning your own home. Get referrals for RE agent too. Trust your "Gut" on working with an agent. There are some "questionable" people in this world - some work for this website too. Some want to only sell their stuff, and keep the readers in the dark. (Sorry for the Soapbox stuff.) Paying Rent is paying your landlords mortgage PLUS a profit. As a Buyer it's the profit that will be going into your wallet.
There are many different ways to find a house, using little of your own money. Using an RE agent is only one of many ways, and depending on your situation might not be the best way. The best thing you can do at this point is educate yourself, read books, take some courses, figure out what is the best way for you. If you persist, the answers will come.
Run away! Anyone who tells you make 6-8 payments and then the house is yours is uninformed at best and a con at worst.