patrick.net

I would like to weigh in, What could you make with your down payment invested in say, one of your high tech stocks of your choosing say Apple say you bought 100 shares or 70 shares, now of course there are dozens no hundreds of stocks one could choose, heck you could choose a LOW BETA High yielding stock also and kick the TOTAL RETURNS you planing on getting of your owning the house, and being as you can rent for same price and gain all the UPSIDES that renting brings with it, Say your plans change, and or one of you loose the job and or the world changes as it prone to do.

I can't understand why so many of us, (me when younger) fall for the HORSE POOP that ownership is this answer to all. IT is not!

swebb says

I totally agree with you that it is a personal choice, and that people who don't want (or can't have) children shouldn't be made to feel inadequate or bad for not having kids. Live and let live. However, I have noticed that there is a certain defensive or aggressive response from the NK crowd. As a parent I am sometimes jolted by the reactions of the militant NK people out there -- it's as if they believe that their decision to not have kids entitles them to never encounter kids -- which I think is a totally bogus attitude. Everybody was a kid at one time or another...deal with the reality that there are going to be kids in the world -- and on a good day embrace and cherish them.

Shame on me for getting so off topic. Hard to resist.

Totally agree with you swebb. The self-righteous NK crowd is really starting to bother me as well.

yup they're expensive, yup they're a lot of work, yup you have to give up a ton of freedom, but in the end it's so worth it ---FOR ME. I feel sorry for people who think that hiring a 25 year old swedish nurse somehow equates to the unconditional love of a family.

And Billy - you sound like a responsible kid and by looking at your finances you appear to manage your money very well. In my opinion it's a close call - from a FINANCIAL standpoint, but all of your decisions in life shouldn't be made on what would make or lose you the most money. Kids are the best example I can think of, they cost a lot but many people would give up every dime they ever made just to have one. Of course you also can't make decisions in life based only on what makes you happy but in this case if buying this house would make you and your wife happy then buy it, and enjoy it, and don't regret it. Good luck.

Have you received a notice of default yet? If not, you've got several months ahead of you. First thing is to ask for a loan modification, perferably under the HAMP program. If you don't qualify for HAMP, ask for an in-house modification.

While you are doing that, make an application for arrears assistance from Keep Your Home California. That is good for up to $15K. There is also an unemployment assistance program that will pay your mortgage for 6 months. Hurry though, before program funds are exhuasted.

Most important, keep in touch with the trustee. Bank will tell you one thing, but it's the trustee that controlls the sale.

Good Luck.

It sounds like you've done your homework. What I like is that you aren't the first owners and the house is older. but here's some questions

1) You might not want to have kids now but it might be a good idea to examine the school systems just in case

2) It's always a good idea to look up other stats about the area. Police logs can be open and crime rates are public.

3) shop around to find out about competition for various services. Energy, communications..heck food. Maybe find out who has done the most plumbing work in the area before you try to do any on your own. Towns can have different plumbing codes

4) With work try to have a plan b if not plan c just in case. I wouldn't recommend going to school at the same time since this is a large purchase. But check with your employers if you have non competitive agreements. Get a list of competitors in the area.

I hope you get the house, AND I hope you do this too. Upgrades, Repairs can be had MUCH MUCH MUCH MUCH MUCH MUCH MUCH cheaper than anyone believes. Say you want a new floor, price out the material at HD. Now, get prices from people that put floors in locally. Remember, take 40% off YOUR cost at HD and that is what they are buying for. You'll be surprised that a fair price to put it in is what your total bill at HD would be.