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Is it safe to buy a house or get a loan these days?

I live in Massachusetts. I'm tired of renting and want to buy a house. I don't know anything about real estate or bank loans so this is a very general question. I want to live either in Massachusetts or Florida. Is it safe to get a loan for a house these days? I hear all this negative stuff on the news about foreclosures and loans and economy. Any advice?

Asked By: panda - 2/2/2009
Best Answer - Chosen by Asker
Manda: Elizabeth gives some good advice. Unfortunately, the correct answer for you varies depending on factors such as 1) the cost of renting versus cost of buying, 2) your credit rating and employment history, and 3) the amount of down payment you can afford, expressed as a percentage of the total loan amount... More
Answered By: LongBoom - 2/2/2009
Additional Answers (5)
Hey babe , the best way during this period is not to buy loan you will be in trouble. But you can just rent and house and try to save your money for future. I hope you will safe. If you still need some advice ping me
Answered By: Varnoh - 2/2/2009
 
Sonia? forgot the rural constuction type loans? I guess. My realtor says that only people with "the best, most perfect" credit scores can qualify for a loan for a manufactured home. THOSE people (with perfect scores) are not seeking manufactered homes (in my opinion!) LOL. ANyway, my realtor suggest some kind of... More
Answered By: Old Corpse - 2/2/2009
 
That is what makes us tune into the media, bad news... More
Source(s):
Answered By: godged - 2/2/2009
 
Hello Dear... More
Answered By: William S - 2/2/2009
 
All the problems with the real estate market are the reason to buy. Fools buy when the price is high and the market is healthy and then sell when real estate is cheap. You gotta buy low and sell high in real estate, just like in stocks, and the market is low now. If you are thinking of buying a house in Florida... More
Answered By: Daniel S - 2/2/2009
 
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