Web Wealth: Winning in the housing market

Feeling stimulated yet? Evidence of an economic recovery will have to include a revival of interest in the housing market. Learn how to proceed in that market by checking these Web sites.

HUD advice. The federal Department of Housing and Urban Development has help for determining how much you can spend on a home, based on your income, savings, and so on. A calculator will show you if it's better to rent or to purchase, by comparing the long-term costs of each option. Follow a link to learn what the mortgage limit is in your county for FHA financing.

Expert Village. This Expert Village page about buying real estate has 16 videos with titles that include "Do You Need a Realtor to Buy a House?" "For Sale by Owner Tips," and "How to Choose a Neighborhood."

Avoiding foreclosure. Even if you don't plan on losing that new house someday, HUD's guide to avoiding foreclosure would be a good place to stop for a lesson on the myriad of things that can go awry in what could be your biggest financial commitment.

Modify a loan. Need to modify an existing mortgage loan? The Wall Street Journal has compiled a list of state hotlines for foreclosure-prevention services.

Mortgage shopping. You can print out a "mortgage shopping worksheet" from this government publication on how to shop for a mortgage. It advises that you look for any hidden costs in contracts and get proposals from several mortgage brokers or banks. There's a handy glossary and a link to for finding the federal offices that handle different consumer issues, including those related to food, health, and other products.

Realtor central. The Web site of the National Association of Realtors has entertaining links to luxury and celebrity home listings on YouTube, as well as additional help on checking and improving your credit rating.

Contact staff writer Reid Kanaley at 215-854-5114 or rkanaley@phillynews.com.