Re: How do people in debt become homeowners??
I agree with the poster above, the lender, home builder, realtor...everyone is trying to make $ off you purchasing a home so it makes sense they want you to buy the biggest, nicest home, with all the options... and not really focus on payments, property taxes, school income tax levys, or other variables that make up your monthly payment.
If you don't feel in your gut you can swing it... then consider the situation the poster above wrote. If you or your SO lost their job could you still swing the payments? If not, then strong considering your situation again. It is tough to try and buy a home when you have foreclosed in the past or file for bankruptcy. You may decide to purchase a home but then not be able to enjoy it because you are up every night worrying about finances....not fun at all.
Keep saving!
Jason
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