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(From Philippine Daily Inquirer)
Byline: Tessa R. Salazar
MANY PEOPLE WOULD like to buy their dream house but only a few can pay cash. The good news is that there are a slew of payment options these days when it comes to prospective house buyers.
If you ask expert house brokers, they would tell you outright that you have to depend on the availability of affordable financing programs and being qualified to borrow.
Real estate broker Enrico S. Cruz of United Realty Brokers and Appraisers Network (Urbanet) advises people that although there are numerous private, traditional and government subsidized housing loan programs, one should be aware of the pros and cons of each loan alternative to be able to choose a financing program that would suit the buyer and his capacity to pay.
Cruz said there are ways to avoid the common mistakes of borrowing and avoid the unpleasant event of being cheated or worse, of incurring default and facing foreclosure or forfeiture and contract cancellation in case of installment financing.
Securing a housing loan