Owning a home of your own is something many people would like, people with disabilities included. A strong argument against buying a home with little or no down payment is that if a person is unable to afford their mortgage payments they could end up losing their home. Foreclosures do happen and people do lose their jobs, experience forms of disabilities, have large medical bills, or get divorced. If a person loses their home they also lose money, even if they made no down payment. They have also most likely paid closing costs and expenses related to moving. The person is liable for the mortgage and their credit rating will suffer.
URL: http://www.disabled-world.com/disability/housing/purchase.php
No comments:
Post a Comment