There are responsibilities that come with the joys of home ownership, like paying property taxes and repairing things that go wrong. Some houses are pits into which you can expect to throw all of your time and money for the foreseeable future. You can’t magically predict which houses these will be, but there are some warning signs that our domesticated cousins over at Consumer Reports rounded up. [More]
Even in a tight credit market, the fact that you can qualify for a mortgage doesn’t necessarily mean that you can afford it. In order to avoid becoming “house poor,” or in a worse scenario, putting yourself in position to one day deal with a short sale or foreclosure, you need to avoid loans that place you in a position to fail.