Free Online Articles Directory
21.11.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


When A Dream Becomes A Nightmare

Author: Carl Hampton Author Ranking Bronze | Posted: 25-09-2007 | Comments: 0 | Views: 19 | Rating:  (50) Article Popularity - Green (?) Got a Question? Ask.
Related Videos
How to Customize the Interface in Adobe Dreamweaver Lesson 4

Learn how to work between the code interface and the design interface...

How to Customize the Interface in Adobe Dreamweaver Lesson 3

In this lesson we will review our interface option and opening a...

How to Create a New Website in Adobe Dreamweaver Lesson 4

Lear how to add an image to your webpage in Adobe...

Sign Up Now!

A good education leads to a great-paying career; job security affords the dream of owning your own home becoming a reality. Sounds good, doesn't it?

Once upon a time, that was more than likely an achievable dream. These days, however, with housing costs devouring about 70% of an individual's gross income, keeping a roof over one's head may be the most we can do... never mind owning the house!

Being employed, does not offer the same security to families that it did during our grandparent's era. The cost of living is not compatible with surging home prices; health care; property taxes; insurance; education... and, on and on, and on.

After you have paid the excessive amount of income required in order to live in your own house there is not much left over for necessities (let alone life's little luxuries)!

Housing crosses the threshold of being un-affordable when you are spending 30% or more of your "before tax-income;" yet almost 40% of U.S. homeowners with a mortgage are living that reality. And, over 7 million households are spending 50% of their gross monthly income on covering their home loan, and basics, like utilities.

It would appear that the strain of owning your own home is inevitable. Existing homeowners with Adjustable Rate Mortgages (ARM's) should expect to see an increase in their monthly mortgage payments, especially once the initial fixed-rate period ends. And, those homeowners who want to sell or re-finance will find it more difficult to get a loan now that the real estate market is softening, and the mortgage industry is plagued with problems.

Cities like Stockton, and Long Beach, in California, and Miami and Fort Lauderdale in Florida seem to have the highest percentage of homeowners paying between 30% - 50% of their incomes on housing.

With a population of 300,000 in Stockton, California, to date there have been over 8,000 foreclosures in the past 8 months!

If you are a potential homeowner educate yourself about the market. Learn about adjustable rates, refinancing, and pre-payment penalties.

Having a dream is a necessity in order to achieve goals; home ownership should not become a stigma attainable only by a select few.

Don't let your dream become a living nightmare! Own a home; but only if you can afford it!

Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Tags: article, reprint

Article Source: http://www.articlesbase.com/advice-articles/when-a-dream-becomes-a-nightmare-220029.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:
"Your" Money Matters by Carl Hampton From the Author of "From Credit Despair To Credit Millionaire." http://wwwcarlhampton.com
Submitting articles has become one of the most popular means to drive traffic to your website and promote yourself and your business. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

Brazilian Keratin Treatment - Hair Falling Out!
By: StraigteningTRMTgonewrong | 04-11-2008
ME TOO! I got a low formaldehyde treatment a month ago and my hair is noticeably thinner... I notice it everyday!! How can I reverse this?

What is the 2008 world record for longest ...
By: Rich | 02-11-2008
What is the 2008 world record for longest sustained note on a wind or brass instrument?

Kindle Helpdesk
By: cowgirl73 | 20-10-2008
What do you do when you submit an article to article cube and find it all over the web, without your backlinks??!! I spent the time to write the article and only put a small link to by website in the about the author box, only to find my article on several blogs with my link cut out. How annoying.

Recording on demand
By: soccerstar | 19-10-2008
Can i record on demand with a Dvdr?

Can i record two shows at the same time while i am ...
By: fen | 04-10-2008
can i record two shows at the same time while i am not at home (presetting it to record both)?

I am writer and need to know where to contact ...
By: Defilosofa | 26-09-2008
I am writer and need to know where to contact agents that could assist to syndicate my works.

Q&A Powered by:
Powered by Yedda 

Latest Advice Articles

New Science of Getting Rich
By: Bryan Appleton | 19/11/2008
There are many easy ways to build wealth. The easiest way is to do it one step at a time. As you consistently add more steps, your wealth will automatically increase.

A Great Motivation Trick: Just Do One Thing Today. Yep, One Thing
By: Shawn Lovett | 18/11/2008
When you are overwhelmed with tasks one of the best things you can do is set aside a day to accomplish just one thing. Period.

Before You Give Advice
By: Sandra Prior | 17/11/2008
It's easy to dish out advice - but are you helping people or holding them back?

Sampling Discount Perfumes
By: vishal | 17/11/2008
Why do people sample perfumes? It's mainly because they want to see how it smells before they end up buying the fragrance. They don't want to spend money on a fragrance that smells awful.

Is Clutter Hoarding Making You Fat?
By: Joesph Merton | 17/11/2008
Is the clutter in your life making you fat? Read this and find out.

Organizing Clutter -- Top Seven Mistakes to Avoid
By: Joesph Merton | 17/11/2008
You want to organize your clutter? Don't lift a finger until you read this first.

How to Clean an Apartment Checklist
By: Joesph Merton | 17/11/2008
If you've ever wanted to know how to clean an apartment, this list will walk you through the process step by step.

How to Organize My House? 2 Steps to Freedom
By: Joesph Merton | 16/11/2008
Looking to declutter and organize your house? Read this and find out how.

More from Carl Hampton

Foreclosing on Mental Health
By: Carl Hampton | 10/06/2008 | Finance
Social Service Hotlines report a major surge in phone calls from emotionally distraught homeowners. The prevalent issue appears to stem from the housing crisis. Psychologists state that the real estate meltdown is creating a wide range of emotional behavior. Mental Health Groups, such as the American Psychological Association, say that problems such...

Debt Collection Protection - You Have Rights
By: Carl Hampton | 01/06/2008 | Finance
The Council of Better Business Bureaus says that complaints against debt collectors, after plunging in 2005, are rising again. They surged 20% in 2006, and 26% in 2007. Even the Federal Trade Commission says that they have seen a steady rise in debt collector complaints, and they receive the majority of...

Has Sub-prime Had Its Time?
By: Carl Hampton | 01/06/2008 | Finance
The sub-prime crisis has had a rippling effect on the worldwide economy posing critical challenges for Governments, Businesses, and Investors. The United States Banks and Trading Houses re-packaged sub-prime debts into attractive-looking securities and/or investment vehicles, which were then picked up in European and Asian markets by Traders and Banks. Sub-prime basically...

Prescription For Success
By: Carl Hampton | 16/10/2007 | Finance
Fast Forward: 2019; the hospital insurance fund is projected to run out of funds. 2041; the Social Security Trust Fund will run dry. The hospital insurance funds of Medicare (Government health care program) are currently paying out more than it takes in. It is projected that Medicare's payments for doctors and prescription...

A Longer Life
By: Carl Hampton | 04/10/2007 | Advice
The twentieth century saw a rapid rise in life expectancy due to improvements in public health, nutrition and medicine. According to newly released government figures, the life expectancy for Americans is approximately 78 years; the longest in U.S. history. The improvement in life expectancy is partly due to a decline in...

Low Interest Rate Courage
By: Carl Hampton | 03/10/2007 | Finance
Approximately 2 million homeowners, a majority being in minority neighborhoods, are at risk of losing their homes, either through default or by foreclosure. The housing bubble encouraged homeowners to apply for Adjustable Rate Mortgages (ARM's). New homeowners were able to purchase "zero dollar down" properties, whilst existing homeowners re-financed, either to...

A Piece Of The Puzzle
By: Carl Hampton | 25/09/2007 | Self Help
Most people consider "achieving wealth" as a mystery. It is thought that the management of money requires a particular talent that most of us feel was left out of our genetic make-up! We believe that it takes a certain type of person; an expert in number-crunching, or someone who has...

How Much Fun Is There Really In A Tax Refund ?
By: Carl Hampton | 15/04/2007 | Advice
For most taxpayers, refunds are what the tax system is all about. And, for 80% of the population the obsession with the annual refund causes bizarre behavior, from anxiety to slight dishonesty; even routinely having more tax than necessary taken out of our paycheck. What rational person overpays...

Article Categories





Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below