What to do in the current financial market

Posted on 26. Sep, 2008 by admin in Tips

Here are some thoughts I had on the current financial market and how to make fortunes when there is blood in the street.

  • Keep hunting for opportunities but be cautious on final decision of what type of property to buy.
  • Build up cash reserves since cash & financing has gotten tighter.
  • If you don’t own a home, plan to get one unless you are planning to move soon.  Always good to get the tax breaks and interest rates are very low and will not go much lower before they go higher.
  • Lock in a good 30 year rate while guidelines are still good for first time buyers and rates are low, these guidelines may change as the financial market shakes out the proper guidelines for loans.
  • Use $8K tax credit for first time home buyers combined with FHA program.  $8K covers majority of the 3.5% required.

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