I'm very new here. I lurked for a little bit, but joined because I thought I could maybe help out with some people who had coupon questions. But, I have a couple of questions of my own.
My husband and I both work kind of irregular jobs, part time, but definitely high paying for the area we live in. He gets anywhere from 20 to well over 40 hours per week. I seem to currently be settled into a routine of 36 hours a week, but just last month it was 24 hours a week. I don't think mine should be changing too much now, but one never knows in this economy.
We currently rent and are on a one year lease which will expire at the end of October. We had a new landlord purchase our house in a bankruptcy of our former landlord about 4 or so months ago, so I'm not positive if our rent will go up or not. We currently pay $845 with is pretty cheap for a 3 bedroom house. When our new landlord first contacted us (he bought the house sight unseen), he wanted to know if we would be interested in buying the house, and we said we were (we had hoped it would linger long enough in the bankruptcy that we could've gotten it for the song he probably got it for). I told him that we didn't have very good credit, but that I had some stock that would become available to me in July which we wanted to use as a down payment. When he came over to talk to us, he mentioned that he #1 wanted $120,000 for this house and #2 that he was asking residents to move at the end of their leases if they weren't buying their houses they were renting from the old landlord.
So far, my stock paperwork hasn't become available to me, I was last told at the beginning of September, but she (from the company that does the stock) said they had until October 15, so I am actually still waiting on that stock. It is in healthcare, so I'm hoping it has gone up slightly. Last year I was 80% vested and my available portion was $73XX.00. I am no longer with the employer that the stock is thru, so my vested portion will not go up any further.
We also had a hail storm and are hoping to get a nice amount of insurance money from that. Our vehicles are 2001 and 2004, so I don't know that we will spend the money to get them fixed, but rather just live with the damage that doesn't inhibit the vehicles' ability to function.
OK, here's the dilemma. The house we are currently renting has issues, big ones! It needs a new roof, the current one is original to the house (1976) and has been patched with tar prior to us moving in. We've so far had no issues, but I know previous tenants have. There is most definately water damage to the attic area which would mean insulation, new wood, etc. The windows are good except one that is foggy. We've gotten an estimate on that for $300 and had considered paying out of our own pocket to repair it even as renters, but so far haven't done so. It has composite siding in very poor condition. The deck has weak spots. It needs new flooring throughout. The bathtub is all rusted. The bathroom and kitchen need serious updating. It has some areas that need mud jacking because we have water leaking into the basement. The gutters need redone and there is mold all over the soffit (I think that's the right word) all around the house. I can see this house being worth $120,000 in perfect condition, but in its current state, no way! I mean, it looks nice if you're an outsider not inspecting too closely, but once you dig in, there's issues.
We found a house we really like in a neighborhood we previously lived in and loved (not too far from our current house, maybe 1.5 miles). It is in move in ready condition for $94,900. It is an older home and doesn't have a garage. We think there is space to build even a 2 stall, though. Also it has gravel driveway which we weren't crazy about, but otherwise it's beautiful.
I had applied for a loan online for $120,000 and told it I had no down payment, and it denied me especially mentioning the no down payment. I will have some down payment hopefully soon, however.
So, with my stock money and insurance money, should I consider trying to get a loan for a house or not? If I did get approved for a mortgage, would you even consider our current house? Or, would you pay bills? We still owe about $7000 between our 2 cars and both have high interest rates. I really don't have a credit card. We filed bankruptcy in 2003 and the only card I got after that point had a limit of $750 on it, and I've been plugging away at it after cancelling it for about a year ago. It still has $130 on it, but I think I'll be able to pay it off next billing cycle. I also have about $5000 in student loans which are currently in deferment. Any other debt we have is like medical bills or old, old utilities, that type of thing which isn't currently accruing any interest just possibly not looking good on our credit report.
My husband and I both work kind of irregular jobs, part time, but definitely high paying for the area we live in. He gets anywhere from 20 to well over 40 hours per week. I seem to currently be settled into a routine of 36 hours a week, but just last month it was 24 hours a week. I don't think mine should be changing too much now, but one never knows in this economy.
We currently rent and are on a one year lease which will expire at the end of October. We had a new landlord purchase our house in a bankruptcy of our former landlord about 4 or so months ago, so I'm not positive if our rent will go up or not. We currently pay $845 with is pretty cheap for a 3 bedroom house. When our new landlord first contacted us (he bought the house sight unseen), he wanted to know if we would be interested in buying the house, and we said we were (we had hoped it would linger long enough in the bankruptcy that we could've gotten it for the song he probably got it for). I told him that we didn't have very good credit, but that I had some stock that would become available to me in July which we wanted to use as a down payment. When he came over to talk to us, he mentioned that he #1 wanted $120,000 for this house and #2 that he was asking residents to move at the end of their leases if they weren't buying their houses they were renting from the old landlord.
So far, my stock paperwork hasn't become available to me, I was last told at the beginning of September, but she (from the company that does the stock) said they had until October 15, so I am actually still waiting on that stock. It is in healthcare, so I'm hoping it has gone up slightly. Last year I was 80% vested and my available portion was $73XX.00. I am no longer with the employer that the stock is thru, so my vested portion will not go up any further.
We also had a hail storm and are hoping to get a nice amount of insurance money from that. Our vehicles are 2001 and 2004, so I don't know that we will spend the money to get them fixed, but rather just live with the damage that doesn't inhibit the vehicles' ability to function.
OK, here's the dilemma. The house we are currently renting has issues, big ones! It needs a new roof, the current one is original to the house (1976) and has been patched with tar prior to us moving in. We've so far had no issues, but I know previous tenants have. There is most definately water damage to the attic area which would mean insulation, new wood, etc. The windows are good except one that is foggy. We've gotten an estimate on that for $300 and had considered paying out of our own pocket to repair it even as renters, but so far haven't done so. It has composite siding in very poor condition. The deck has weak spots. It needs new flooring throughout. The bathtub is all rusted. The bathroom and kitchen need serious updating. It has some areas that need mud jacking because we have water leaking into the basement. The gutters need redone and there is mold all over the soffit (I think that's the right word) all around the house. I can see this house being worth $120,000 in perfect condition, but in its current state, no way! I mean, it looks nice if you're an outsider not inspecting too closely, but once you dig in, there's issues.
We found a house we really like in a neighborhood we previously lived in and loved (not too far from our current house, maybe 1.5 miles). It is in move in ready condition for $94,900. It is an older home and doesn't have a garage. We think there is space to build even a 2 stall, though. Also it has gravel driveway which we weren't crazy about, but otherwise it's beautiful.
I had applied for a loan online for $120,000 and told it I had no down payment, and it denied me especially mentioning the no down payment. I will have some down payment hopefully soon, however.
So, with my stock money and insurance money, should I consider trying to get a loan for a house or not? If I did get approved for a mortgage, would you even consider our current house? Or, would you pay bills? We still owe about $7000 between our 2 cars and both have high interest rates. I really don't have a credit card. We filed bankruptcy in 2003 and the only card I got after that point had a limit of $750 on it, and I've been plugging away at it after cancelling it for about a year ago. It still has $130 on it, but I think I'll be able to pay it off next billing cycle. I also have about $5000 in student loans which are currently in deferment. Any other debt we have is like medical bills or old, old utilities, that type of thing which isn't currently accruing any interest just possibly not looking good on our credit report.
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