Property Lust
I talked to the Mortgage Dude this afternoon. He keeps calling me, so I figured I should talk to him and give him the straight dish--we ain't going nowhere. Well, not for another 10 months or so. He told me the best thing we can do in this case is start socking away as much cash as physically possible, because the way the market's turning, 100% loans are very likely to be a thing of the past this time next year, and lenders are going to want at least 3% down, or to see up to 6 months' worth of principal + interest in the bank.
Hmmm...I failed a couple of math classes, but I think if x=1 month PITI and y=6 months and z=the amount we need to have to get a mortgage loan, then x(y)=z, which on a $160k loan would be $1300(6)=$7800.
Jesus wept, that's a lot of money.
But I figured out a way we can do it. We've already decided that (if Ben's mom will let us) we're going to take the money she loaned us and put it in savings, where at 4.5% it will earn roughly a hundred bucks between now and next year. We'll start paying her back, but at a considerably lower rate than originally anticipated, and continue putting the amount in savings we'd planned to. Add to that the Big Ass Tax Refund we're expecting next year (because I screwed up our return this year and thought we weren't taking enough out so Ben's getting about half a paycheck now, doh), and it looks almost doable.
Of course, it would look really truly doable if douchebag would pay his fucking child support like he's supposed to. But I don't even figure that money into our budget anymore, because it's just like the government--I can't rely on it to be there when I need it most. And I just have this feeling that when I am granted sole custody and his visitation is all but completely denied (positive thinking), the checks will cease and desist entirely. And what do I do then? Well, I could spend some more money on legal fees and have his ass thrown in jail for contempt, but that still wouldn't get me paid.
So, yeah.
Speaking of douchebags and custody and visitation, I have no fucking clue what's going on with any of it. db is still strangely quiet. No calls, no emails, nothin. It's been very, very pleasant, I have to say. My stress level has dropped immensely. And, it would seem, so has Bob's. He doesn't seem like such a mess anymore. That's not to say he's become suddenly docile and agreeable and ultra pleasant, but he's at least acting like less of a future serial killer. Progress, not perfection, right? I still haven't heard anything from the supervised visitation place about when (or if) that's going to start up again. It doesn't sound like db's been real proactive on that. It wouldn't surprize me if he doesn't even want to see Bob at this point. Bob did, after all, turn on him. At least, that's how it is in his warped fucking universe.
Okay--time to finish watching American Idol. Sanjaya ROCKS!
Hmmm...I failed a couple of math classes, but I think if x=1 month PITI and y=6 months and z=the amount we need to have to get a mortgage loan, then x(y)=z, which on a $160k loan would be $1300(6)=$7800.
Jesus wept, that's a lot of money.
But I figured out a way we can do it. We've already decided that (if Ben's mom will let us) we're going to take the money she loaned us and put it in savings, where at 4.5% it will earn roughly a hundred bucks between now and next year. We'll start paying her back, but at a considerably lower rate than originally anticipated, and continue putting the amount in savings we'd planned to. Add to that the Big Ass Tax Refund we're expecting next year (because I screwed up our return this year and thought we weren't taking enough out so Ben's getting about half a paycheck now, doh), and it looks almost doable.
Of course, it would look really truly doable if douchebag would pay his fucking child support like he's supposed to. But I don't even figure that money into our budget anymore, because it's just like the government--I can't rely on it to be there when I need it most. And I just have this feeling that when I am granted sole custody and his visitation is all but completely denied (positive thinking), the checks will cease and desist entirely. And what do I do then? Well, I could spend some more money on legal fees and have his ass thrown in jail for contempt, but that still wouldn't get me paid.
So, yeah.
Speaking of douchebags and custody and visitation, I have no fucking clue what's going on with any of it. db is still strangely quiet. No calls, no emails, nothin. It's been very, very pleasant, I have to say. My stress level has dropped immensely. And, it would seem, so has Bob's. He doesn't seem like such a mess anymore. That's not to say he's become suddenly docile and agreeable and ultra pleasant, but he's at least acting like less of a future serial killer. Progress, not perfection, right? I still haven't heard anything from the supervised visitation place about when (or if) that's going to start up again. It doesn't sound like db's been real proactive on that. It wouldn't surprize me if he doesn't even want to see Bob at this point. Bob did, after all, turn on him. At least, that's how it is in his warped fucking universe.
Okay--time to finish watching American Idol. Sanjaya ROCKS!
posted by Mitzi Green at 8:09 PM
1 Comments:
On the up side of no more 100% loans, there are going to be lots and lots of houses on the market and much less than the current asking prices. Home sales are headed for the toilet and that means - buyer's market. Save your dough and you'll be sitting pretty to buy a nice house at a good price.
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