(PRWEB) July 12, 2007
The concept of buying a home can be exciting, challenging and somewhat overwhelmingÂespecially to first time home buyers who may not be aware of the tools and resources available to help them achieve and maintain the dream of home ownership. As a way of helping potential homebuyers become more knowledgeable and empowered consumers, Countrywide Home Loans has developed a Homeowner Checklist as a resource for new homebuyers.
One of the first questions that a homebuyer should ask is, ÂAm I actually ready to own a home? In addition, homebuyers should review other key questions regarding home ownership such as:
1. Do you have a steady source of income?
2. Do you expect this income to continue in the future?
3. Do you always pay your bills on time?
4. Do you have enough income to pay all your bills each month?
5. Do you have enough income to make the home loan payment every month plus handle additional costs for taxes, insurance, maintenance and repairs?
6. Do you have a plan for getting the money needed for a down payment and closing costs?
7. Are you ready to take on the responsibility of maintaining a home?
A ÂYes answer to these questions is an indicator that potential buyers are probably ready for home ownership. Online resources such as Fannie Mae's Becoming a Homeowner, http://www.HomeByCountrywide.com or local, non-profit housing organizations that offer classes in homebuyer education are good sources for material that will help them get the home-buying process started.
One or more Âno answers does not necessarily mean no to home ownership  it may just mean buyers require some additional planning and/or resources such as FDIC Money Smart Program and the FTC's Facts for Consumers to inform them and help make that first home purchase.
People want to buy homes for a variety of reasonsÂbetter schools for their children, the increased privacy and better quality of life, or the prospects of increased home value and tax benefits. Whatever the reason, home ownership is a part of our national culture and far more people have access to the home-buying market than are actually aware. Educational tools and money management resources can greatly assist prospective buyers overcome their anxiety by better equipping them as knowledgeable consumers, helping them achieve and sustain the goal of owning a home. For more information about the home-buying process visit http://www.HomeByCountrywide.com.
About Countrywide Financial Corporation
Founded in 1969, Countrywide Financial Corporation (NYSE: CFC)  AmericaÂs #1 home loan lender  (as ranked for 2006 by Inside Mortgage Finance, Feb. 2, 2007, Copyright 2007), is a member of the S&P 500 and Fortune 500. Countrywide is a diversified financial services firm primarily focused on real estate finance and related activities. Through its family of companies, Countrywide provides mortgage banking, capital markets, global operations and insurance, in domestic and international markets. The company is headquartered in Calabasas, California and has a workforce of more than 50,000 with over 900 offices. For more information about the company, visit CountrywideÂs Web site at http://www.countrywide.com.
Contact Information
For media inquiries:
Media Relations
800-796-8448
pressroom @ countrywide.com
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