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Winter Springs, FL
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In United States
Registered Jul 08, 2010

Father_of_two's most recent comments:

• On 8 Jul 2010 in In a tough spot - so what's the answer?, Father_of_two said:

  Thanks cevansnh and krndmg for your advice.

  It is true with the HOA issue, it can drag down the whole community if more foreclosures happen.

  I agree, that the housing situation can get worst than where we are right now. And I am very glad that we did not buy a home in the past few years. We are just scared about our small savings losing value through inflation.

  What would you guys doing with your savings if the inflation kicks in? Please advice.

  Thanks

• On 8 Jul 2010 in In a tough spot - so what's the answer?, Father_of_two said:

  Hi all,
  We live in Orlando, Fl and most of you know the housing price now is about less than 50% from peak. We do not own any house now, but we consider to buy a townhouse (I mean real townhouse with small backyard).

  The townhouse we focus on is 3/2/2 (1600sqft), HOA=200$/mo, asking price is about 150K. But you can get for 140K. The rent of such home is now about 1200$/mo. Tendency falling.

  My unexperienced rough calculation shows that the cost of ownership will cost me about 1400$ (all included). Any correction about this # is well come.

  The problem is, I am unemployed now and I do not want to make more then 40% down payment.

  My questions are:
  a) It is a good condition to buy now? (To beat the soon coming inflation).
  b) It is possible to get reasonable financing, based on my unemployed situation?

  Thanks