Hi Everyone
Well Today is getting gone fast! I know last night I slept really well because David let me go watch tv in bed instead of having to stay up in the living room! I always tell him if he was REALLY tired he’d go on to sleep= which he usually does anyways he just likes to fight me on it lol. I don’t know how many times he has fallen asleep and I stay up a while watching whatever and it never bothers him! Anyways he was asleep well before I turned off the tv at a whopping 1030 so there!
I decided to tell you all what the “big vague thing” was from a few weeks back. I am going to try to make this as short as possible – basically mom and dad wanted to try to get us a house – seeing as how we have crap credit and whatnot for various reasons. We are actually not far off on having the appropriate credit for a house but- its gonna be a while and our lease would be renewing soon and all that kind of thing. I still find it amazing I have a 22,000+ car sitting out there that wasn’t a problem at all to get but anyways…
the way my parent would have to do it comes under investment property – and then we’d be paying them like a rent to own situation. we had a realtor and went to look at a handful or so of houses. One I really liked came under manufactured housing and let me just straight out right tell you= they are about impossible to get financing for unless you are buying it out right as in first time owner , in house kind of thing.It is just up the road and was GORGEOUS with about an acre of land. It had been redone totally and was ..well nothing short of OMG
I looked at a house in town that was stick built with practiallcy NO land but whatever. It was between those two houses.
The really nice one that was manufactured we couldn’ get financing for anything because manufactured + investment loan? ha ha yeah good luck!
the one in town? they pulled it off market the day after I looked at it
my mom got them to run some numbers on houses similar to get ideas on monthly payments and whatnot
our catch?
even though my mom and dad have PERFECT credit they came back as 25% down. you do the math on that. so lets say that successfully ended our look at houses and lease was signed for another 15 months. We have been told to wait until our bankruptcy is in the 2nd year or we get around a 620 -640 credit score so we can get an FHA loan
ANYWAYS. I am really broken hearted to this day on the one right up from us- I never will forget it for sure. Anyways- there is a guy thats kind of new at Davids work and his dad /him (not sure exactly) are wanting someone to basically buy out their house/land/extra singlewide and just take over the payments. We had considered that or rent to own .. we have been talking about it a couple weeks.
The thing is the rent would be more, it is up in town- but there is acreage.. and an extra trailer with no real issues to speak of (I haven’t saw any of it yet so I am just taking someones word here) Anyways we figured we could rent that trailer out to davids dad or bro and counter the extra costs. It would be about what he is paying for rent anyways soo..
We’d be doing it as a 15 year loan instead of 30 there enlies the bigger cost. We are supposed to find out tomorrow what sort of down payment if any and then after we know that and talk to my mom and dad we should know whether or not to proceed and go see this place. I don’t have big hopes but just maybe..
OF course we already signed a lease here- we had until the 31st to give notice and lease wouldn’t be up till November. I don’t know if we had to say we are leaving at the end of current lease before the 31st if they would just be so kind to nullify the newer one or if we’d have to do the buy out but if that comes to fruitation I’d figure it out and deal with it I suppose.
My main thing is I don’t like living in town .. its farther out and I just absolutely hated it even though we lived there FOREVER. I am also concerned with renting that trailer out to family and that kind of thing but that would be the only way we could counter costs .. I guess we’ll just have to see right?? Maybe if our credit ever gets up again- at least one of us we can try again and i’m going to check out Homes for Sale in Charlotte NC help find what I am looking for
well I am off of here to see what I can manage to get done today. Kinda spent the morning stalking emails and such so..I might at least run the dishwasher or something 🙂