Over the past four years, the proportion of Americans with access to the Internet at home or work has grown to 71 percent. Seventeen percent of all adults have started to save money toward a down payment on a home. The groups most likely to be saving for a home are people age 25 to 39, single parents, and African Americans. Thirty-five percent of all renters are now saving for a down payment, and more than 60 percent of renters who say they are likely to buy a house in the near future are putting money aside. In other words, it must be worth at least as much as the original property.
Portable mortgages have some strong advantages.
There are no new points to pay or application fees. There are no processing delays, qualification hurdles or loan origination expenses. The homeowner always qualifies for a loan as long as he pays the mortgage on time for at least two years. Send inquiries to James M. Woodard, Copley News Service, P.O. Box 120190, San Diego, CA 92112-0191. Contact your account representative for in print and online advertising rates and data.