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Buying a House? Here are some tips to help avoid home-loan heartbreak.

1)Don’t pay too much for your home. Find the prices of comparable homes in the neighborhood. Free online services such as http://realestate.yahoo.com/re/homevalues are available.
2)Ask friends and family about realtors and loan companies they have had a good experiences with.
3)Hire a qualified & respected home inspector to carefully inspect the property before you are obligated to buy.
4)Lying on your loan application may be considered fraud. Don’t let anyone convince you to make false statements about your income, etc.
5)Don’t let someone convince you to borrow more than you know you can comfortably repay.
6)Don’t sign documents with blank areas. Cross through any blank parts or write N/A (Not applicable)
7)Read all documents carefully before you sign. Before signing, have your contract and loan agreement reviewed by an attorney skilled in real estate law, consult with a trusted real estate professional or ask for help from a housing counselor with a HUD-approved agency. If you can’t afford an attorney, bring your documents to a HUD-approved housing counseling agency nearby. They may review the documents or refer you to a lawyer who can help you for free or @ low cost.
8)Be honest about your motives for buying the house. Stating that you plan to occupy the house, when in reality, you are going to rent/ or fix-up and resell it, violates federal law.
9)Find more home loan tips at: http://www.pueblo.gsa.gov/cic_text/housing/loanfraud/loanfraud.htm