I guess no matter how other people would say about how impractical it is to buy a house of your own, I will still prefer having one of my own.  However, for the “financially challenged” people (as what my friend Penni would put it) like me it will be very difficult to get one for buying a real estate property can be very expensive nowadays especially if you want to buy one in big cities like Cebu.  Good thing though, that there are a lot of banks and government agencies who offer mortgage loans to those individuals who dream of having a house of their own.  But it can be a bit difficult to get mortgage loans especially if you do not have a property to put as a collateral for the loan and if your income does not reach their requirements.  And it will even be a lot harder if you have a bad credit line which can be the same if you will seek refinance with bad credit history to refinance your mortgage loan.  But do not despair though for there are companies out there who offers bad credit mortgage refinance services to help out those people who are worth another try.  Although, personally, I would prefer that one should have a spotless credit record so that it will be a lot easier for you when you apply for any loans in the future.