New Orleans police say a man pretending to be a real estate agent conned at least four people into giving security deposits to rent out a property that was really for sale.
Having millions of dollars in assets and a high credit score doesn't necessarily guarantee you approval for a home loan, particularly if your income is still too low.
Research shows that the ranks of repeat home buyers are increasing and making up for the dwindling numbers of first-time buyers.
Though home prices have risen nearly 12 percent from a year ago, a slowdown is expected soon. But many analysts say it's no cause for concern.