Back to basics at WaPo’s real estate section
Personally I’m addicted to the Real Estate Mailbag and the range of pedestrian to esoteric questions answered there. For the less obsessive, WaPo has run several good articles in the last few days about the terms, players, and concepts in the real estate world. Today’s column by Benny Kass walks through the typical players in a home purchase and provides some basic guidance to some new potential buyers.
Hard to believe but it’s true – some people managed to avoid getting sucked into the home-buying craze this last decade.
Michelle Singletary’s column from Thursday breaks down the loan industry, filling you in on prime and sub-prime lending so that you can be clear on their meanings while you’re being terrified about the economy by radio news.
Lastly, if you need your hand held on just how psychotic some lending can be – and apprarently a lot of you do, since over 1 in 4 home owners don’t know what kind of mortgage they have (a statistic in Singletary’s article above :) – you can look at Jack Guttentag’s article on how it’s possible for you to have a loan that you make payments on slower than the interest is added.
This post appeared in its original form at DC Metblogs
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