GAMES AND GADGETS

The ongoing Subprime Mortgage crisis in the US has left more people homeless and more and more people are wary of their investments or how they manage their debt. As more and more people come to the US looking for their American dream, here are just a few tips in order to prevent your investment from being foreclosed.

1. Improve your credit score. While some people just brush aside their credit score, this could have an impact on your mortgage. The better your credit score, the greater the chance that you will be offered a lower interest rate and thus, saving you money on your mortgage in the long run.
2. Analyze your amortization. Though short term mortgages provide lesser interest, see to it that you can meet your monthly amortization. Take into consideration the company you’re working for and your savings so in case you lose your job, it would still be likely that you can make amortization payments for some time.
3. Save. If you have extra money, make prepayments of your amortization, this way, in case an economic crisis comes and you lose your job, you’re month’s ahead of your amortization payments and you don’t have to worry about making payment while you’re job hunting.
4. Look for houses in the suburbs. According to a news article at Money Magic, more people move out of London and into the suburbs to take advantage of lower house prices. Choosing a home that entails some extra minutes on your commute could mean big savings when it comes to your mortgage amortization.