House Buying

[robrecht]

Sorry to hear that, Teallaura.

[Teallaura]

Thanks, everyone.

[lee_merrill]

Grace to you, TL.

Having a kitty in your lap can help...

[Teallaura]

Grace to you, TL.

Having a kitty in your lap can help...

Thanks...

They frown on that at work... Stupid rule, if you ask me...

[Teallaura]

I don't know what to do. I have no idea what will or won't appraise - the realtors can't tell, how the heck can I? It's evidently got to be turn key - which means spending way more than I want to. I don't want to sell my stuff but storage costs are why I can't save enough.

I did what I was supposed to. I waited 'til I could afford it and I had a down payment - up until my teeth and my car wiped it out. I wasted $500 on a home inspection 'cause that's what i was supposed to do. I am debt free except for the car. And I have great credit.

But I can't buy a house. They let people with no credit and iffy jobs buy houses costing a heck of a lot more than I aim to spend - but I don't get to buy a house.

I see no point looking if I can't tell until after the inspection that I can't buy it anyway. I could buy several storage houses and move stuff that way. Long term I'd be spending less on storage. But I'd have to take on some debt to do it. I don't know...

I can try to just hang on until January when I get my tax refund - not that it'd be enough but it would help.

I can look for another job - I haven't had a raise in four years and I still haven't been paid for May's travel.

It's not fair.

I don't know what God wants me to do and I can't think straight. I'm supposed to go to Dothan tomorrow but heck, no telling if I'll get the travel and I don't think I'm gonna be well enough.

Okay, not coherent any longer. Quitting now...

[robrecht]

So sorry to see you so upset. I wish I knew what to say. Why is it you have so much in storage?

[Teallaura]

Thanks - I'm better today.

I had to rent a small house when I moved - no room for my furniture. I don't want to give up the only things I have left of my family for a house I can't afford and will lose anyway (which is evidently the only thing FHA will approve...). there's some stuff I could sell but it's so far away I have no way to sort things.

[Sparko]

Teal it looks like what you said earlier that if you could do a conventional 80/20 loan then you would be able to get a house that you want. You might have to just try to buy a lower value house so that you can cover the 20% down. Or make lower bids on the homes you want. If you could get the seller of that last house to come down on their price then you might be able to cover the 20%? They might be willing after seeing what happened in order to sell it.

Or move on to another property, where you can put 20% down.

[Teallaura]

20% on this one would be $11000 - which is $11000 more than I have. For me to do that would mean getting a house $20000 or less.

The Realtor says they want to sell but I doubt they want it that badly.

On the bright side, I refi'd my car so that payment is a good bit lower and I changed my car insurance which also brings down the cost. But unless I can come up with a cheaper means of storage or a better job, saving up that much money is a very long way off.

[robrecht]

A better job is always a good thing. Have you thought about looking around to see what's out there with your skill set?

[Teallaura]

Okay, tired of feeling sorry for myself.

I sent a request for more info on a property I saw in April. It's in foreclosure but the website doesn't restrict against that and one site says it's permitted. The house is cheaper and much closer to 'turn key' (I found some minor damage but I'm pretty sure I know how to fix it - or rather how to have it fixed). I'd have to forgo an inspection unless I can get one much cheaper - which might be an option. I'd have to have a garage built but that's not a problem - I was gonna do that on the other house. It may be under contract but so was the other one when I started.

If it doesn't work, I'm no worse off although no better. I am really skeptical of finding anything else that will work. Once I hear from the realtor I'll see what the lender thinks. And, other than some hysteria, I haven't done anything stupid yet so if it's available, I should still be good to go.

[Teallaura]

A better job is always a good thing. Have you thought about looking around to see what's out there with your skill set?

I'm looking to transfer within the state. I'm 9 years from retiring from the state and I don't want to lose that. Once I retire from state employment I can make as much as I am able in the private sector without dinging my retirement.

I have a rather useless degree (poli sci) but there are other jobs that I am eligible for. The problem is finding an opening. "Can tell people they have HIV" should translate well - not a lot harder than that in the 'dealing with people' department but really, who needs 'can perform an RPR and Darkfield'? No lab would want me and no clinic needs that.

But it turns out I'm qualified for Environmentalist (the guys that look over restaurants and make sure your septic system will work) - my ill-fated attempt at becoming a physicist may pay off after all. I'm gonna take a free video series on Algebra to get back up to speed but I have waaay more than 20 hours in the required sciences. I'll talk to Personnel sometime soon.

[One Bad Pig]

On the other end, I probably couldn't sell my house if I wanted to. There are several houses in my immediate neighborhood (including foreclosures) that have been on the market long-term, and they're building new townhouses less than a mile away.

[roadwalker]

Wow, I didn't check in for a few days and...

Sorry to hear that you are having such a tough time with a house. As for retirement, I understand completely. I technically became eligible last week for state retirement (but that would be at a much reduced rate.) You should be aware though that if you can find a position in another state (not easy with the recession) most state retirement systems will allow you to roll over your balance and give you full credit for the years you already have. Just be sure you go to a state with a healthy retirement system. One reason I'll probably stay in Arizona until I'm ready to take retirement, my retirement plan is healthy (a few years ago they raised the amount that we paid into it-- caused some grumbling at the time but it was really a good decision.) Some states may end up defaulting on their retirement obligations and the people who counted on it will be shafted in that case. But if you look only in states with well-funded state retirement plans, you should be able to roll over the years you have and not have to worry about a default.

[Teallaura]

Alabama actually has one of the top retirement systems in the country. It was one of the first to actually get to full funding and is still very healthy despite the downturn (comparative to other systems). But that is good to know... I think I'll look into Georgia...