The is a lot of fear starting to raise its ugly head as Banks and other Lending Institutions start to see more late payments and a raise in foreclosures. This is not a local concern but a national and even a international concern. See what the worlds third largest Bank had to say about the problem. As we have posted before a lot of crazy loans have been made that went way beyond the normal guidelines as in past years. Many borrowers bought a home way above their means and now as expenses go up they cannot afford the extra cost. Do not get caught in the TRAP of a home. Buy what you can afford without blowing your budget. If you do you will ENJOY being a home owner rather than than it becoming a huge stone around your neck. Gain the knowledge you need to make a wise decision. If you are looking for a home to live in look with knowledge for the right price and the right rates and fees. The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.