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• April 21st, 2008

  Both my friend and I got strange text messages from a mutual friend. Is this a sign her phone was stolen or is there a chance her phone is somehow being pirated without her knowing?

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• April 21st, 2008

  Minimum salary to buy a house and not get laughed at by the bank?

  Here are a few things the lenders will consider (aside from how much you make at your current job): 1) Capital – this is the amount of money you have on hand (for down payments, closing costs, etc). Sounds like you have a little bit of that stashed away… 2) Capacity – this is your ability to repay monthly loan payments. Lenders will use a ratio to figure out what your monthly take-home income is after any other debts you may pay out each month (like rotating credit card bills, student loans, car payments, etc). 3) Credit History – you already know about this, it sounds like. The general rule I’ve heard is that you shouldn’t spend more on a house than 2.5 to 3 times your annual income. Of course, this is probably flexible depending on the other variables I mentioned, like how much of a down payment you can afford or how much outstanding debt you have… I suggest taking a home buying class through a local non-profit. I took a class in Portland, Oregon through the Portland Housing Center, which was awesome. They used a great textbook that’s published by “NeighborWorks America.” Might be available where you live. Also might want to check into land trusts. They’re a good option for folks below a certain income level. Good luck!
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• April 21st, 2008

  Both my friend and I got strange text messages from a mutual friend. Is this a sign her phone was stolen or is there a chance her phone is somehow being pirated without her knowing?

  The messages said “Was this fun for you?” (on my phone) and “Now you know. The game is over” (on my friend’s phone). She’s out of town- we tried calling to ask her what’s going on but she didn’t answer.
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