Saturday, March 15, 2008

I Had a Funny Story for Today

But, I'm actually a little too tired to repeat it in the funny way that I was able to do earlier today.

Instead of moving in, which is what was originally planned for this weekend, Fox and I took my bike to get some work (it was having some joint issues), had lunch, drove by the house, scouted out a kayak landing we have yet to try, and took the long way home for a little Jeff Dunham humor before calling it a day.

The evening was spent with some organizing of (an unbelievable amount of) pictures and putting (another unbelievable about of) my scarfs into a couple of those bags that can compress the contents by pushing all the air out. Then I had a long talk with Monty, who's going to apply his resources to get me out of the fix I'm in (in regards the the house) and following that, dad and I filed my taxes.

The issue with my house is that they're either going to give me not enough money at an incredibly high interest rate, or enough money still at that incredibly high interest rate. And what that incredibly high interest rate translates to is about $300 left a month to spend on my student loan, electricity, insurance on the home, insurance on the car, house phone, cell phone, gas, food, cat food and litter. I don't think that can be done on $300 a month, and that certainly leaves no room for cable TV or internet, vet bills, car maintenance, or any other sudden expense that might come up.

The real sucky part is that I'm not sure if I can get out of this with my down payment, or if that's gone for good. Truth is, I don't want to get out of it. I want a loan I can afford. Monty has promised to work on that. He's got the resources, it's part of his job. Whether any of it will actually work is something else. Best case scenario is that Monty can get me a loan and the sales lady will take it. The worst case is that it doesn't work out and I lose my deposit. If neither of those, that leaves one more possible outcome: I can't get the loan, but get my deposit back. Naturally, the first one is what I want. Here's hoping. This is my last option.


Anonymous said...

Strange...with the housing market plummeting, you'd think you could get a decent interest rate--or perhaps it's different with modular homes.
For houses now, our banker told us the interest rate is 5 3/4%.

Any way you could do a "rent to own" kind of deal..that would buy you more time and give you a chance to save up more money for a bigger down payment?

How frustrating. I'm keeping my fingers crossed for you! Laurel

Fyrecreek said...

It is different for modulars: they're financed more like cars. Still, if the sales lady had given us the 12% ballpark instead of the 9% ballpark, I never would have given them any money to begin with.

I haven't been able to find any "rent to own" opportunities here (unless they're run by people who assume you have bad credit).