- 15 01 2010
Michael (02:43:41) : edit
I can stop reading your blog at this point. A $163k home on ~$40k base annual income?
Sorry. You’re cooked. Whoever’s insuring this loan (the taxpayer) is cooked. Whatever broker/realtor/banker put you in this deal ought to be taken out back and thrown in a pile of hungry red ants.
Have you learned NOTHING from the last 2 to 3 years? Nothing at all?
The fact that you cannot differentiate (or simply don’t wish to do so) between what “rent” constitutes, and how that’s different than a mortgage payment with its accompanying liabilities, tells me that you’ve been SOLD.
You have no savings.
You have no down payment.
You have $30k in debt.
You’re buying a $163k house on a $40k base income.
Put simply, you’re a foreclosure in waiting. You (and the gov’t policies encouraging you) are why this crisis is not anywhere near over, and won’t be over for years.