TIM THOMAS

7 Strategies to Protect Yourself from a Housing Market Crash

No matter how rosy things look for homeowners today, a quick look at the history will tell us that what goes up also comes down at the same pace.

7 Strategies to Protect Yourself from a Housing Market Crash

Create A Budget To Determine Your Financial Buying Power

Don’t get caught up in all the buying frenzy. Calculating your budget helps you determine the amount of money you can afford to buy a house.

Offer The Largest Down Payment Possible

The bigger your down payment, the greater your home equity will be. Sometimes, equity is all that is there that stands behind a homeowner and foreclosure when things get tough.

Switch To Fixed Mortgage Rates

A fixed-rate mortgage is where the interest rate is fixed. It does not change no matter what the market conditions are. Opt for a fixed mortgage rate to protect yourself from a housing market crash.

Conduct A Rating Analysis Of Your Savings Bank

To protect your savings while there is a housing market crash, assess your savings account with professional analysis ratings.

Build An Emergency Fund

Your emergency fund is your backup cover against an unexpected fall in income, a cushion to fall back on. An important factor to include when building your emergency corpus is that it should be easily accessible and available to you.

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