Originally Posted by Hog's Gone Fishin:
I think the solution ,which my banker said he could do , was to do a loan modification at the 5 years. So for example I could take the remaining 25 years and have them change it to 10 so I have the 15 yr loan in essence. Yes the required payment will be higher but I hate paying all the interest on a long term loan anyway. So looks like you got out of their scandle.
I assume this would essentially be a refinance, and have associated fees? [Reply]
Originally Posted by Hog's Gone Fishin:
My bank will do a loan modification with minimal fees . No appraisal needed. Basically just a little paperwork. They're so wonderful.
That is awesome.
Google indicates most lenders don't offer this without financial hardship for the borrower [Reply]
Originally Posted by Hammock Parties:
Hell to the naw naw naw
Given the money you've made, you should have an awesome down payment for a house. Are you shooting for 20% down? Houses in the Midwest are super cheap, which is nice. [Reply]
Originally Posted by lewdog:
Given the money you've made, you should have an awesome down payment for a house. Are you shooting for 20% down? Houses in the Midwest are super cheap, which is nice.
25% and pre-approved already.
Ready to be terrified when something breaks. [Reply]
Originally Posted by lewdog:
Good for you. Awesome start.
Home ownership is a financial bitch. Seems like something is always needing to be replaced and my house isn't even that old!
I hate the idea of pissing money away on rent, but with the current housing prices and these kinds of things I can't deal with, I think I'll be a tenant for the foreseeable future. :-) [Reply]
Originally Posted by Pointer19:
I hate the idea of pissing money away on rent, but with the current housing prices and these kinds of things I can't deal with, I think I'll be a tenant for the foreseeable future. :-)
Rent here in Cali is the same as a fucking mortgage, it’s ridiculous.
Buy home, sell for profits. Buy more expensive home, sell for bigger profits. Rinse, repeat until forever home. Too many people get attached to their piece of shit starter home. [Reply]
Originally Posted by KCUnited:
Buy home, sell for profits. Buy more expensive home, sell for bigger profits. Rinse, repeat until forever home. Too many people get attached to their piece of shit starter home.
My grandparents mortgaged their home multiple times to live off the loans.
I wonder what their credit score was when they died. [Reply]