Whenever I heard people talk about mortgages, it always sounded like they were speaking a foreign language. So many words I didn’t fully understand: escrow, closing costs, fixed-rate, variable rate, title insurance. I never bothered to learn the vocabulary. I thought someday, down the line, when I’m ready to buy a house or an apartment, when the money for the down payment is in the bank and the house of my dreams (or more likely my means) is for sale, I’ll make the time.
Big mistake! I finally took a mortgage seminar presented by Municipal Credit Union, my credit union. As I listened to the presenters, I tried to enjoy my free cookie and soda, but my stomach just grumbled, along with all the other eager future home-buyers in the packed room. The presenters made it clear that there is so much to do with fixing up your finances before you can even think about getting a mortgage and fixing up a house. The good news is that there is lots of free resources out there provided by neighborhood non-profit organizations to help you get ready to buy an apartment or home.
Check out classes provided by Mutual Housing Association of New York: http://mutualhousingny.org/
Connect with Kara @frugalfeminista