Why renting SUCKS and why life SUCKS *rant* - Mothering Forums

 
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#1 of 14 Old 06-16-2007, 01:02 AM - Thread Starter
 
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We now have roughly 4 months to find, get financed for, and move all our crap into another house because my aunt has decided she's selling this one. We've been renting it from her since March 2006. We found another house right around the corner that we like a lot, I called a local bank and spoke with the mortgage guy who apparently is a distant relative, anyways the news wasn't all that great. Even though this other house is cheap, our credit is awful and we got an 8.5% interest rate, putting our mortage on that house with taxes and insurance only 75 bucks less than what we pay for rent here now. We needed and were hoping it would be drastically less. My aunt asked if we wanted to try to get financed for her house, but I don't see how there would be any way to afford it. This house appraised well above our price range. And to make things even more miserable, my aunt has ( finally ) hired a company to rebuilt the entire basement. All of the walls are caved in/broken and must be replaced. That will be 2-3 weeks of backhoe, construction crew, noisy, dirty hell on earth.

Now here comes the other rant. DH drives about 50 minutes to work from where we live every day. Okay whatever right? Lots of people commute. I grew up in the area where he works, and we used to live in that city. I don't want to live there again. We have moved four times in the four years we've been together, two of those cross freaking country moves. It's time to settle down. I am happy where we live, I've finally started meeting people and making friends and feeling comfortable. And I'm so tired of every time I finally start getting happy about my position in life, someone just rips it away from me. DH wants to move closer to work. I say hell no, I ain't moving. Why should I have to follow him around? When will it stop? How many more times will we move? I don't want that kind of life. I'm putting my foot down. The only way I'm leaving Sebring, Ohio is in a hearse. They will literally have to drag me dead from this town.

: : : : : :
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#2 of 14 Old 06-16-2007, 01:09 AM
 
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I agree with you that renting is not an ideal situation. I'm dying to start painting walls, but it's just not going to happen. I can't wait to have a house of my own again. Hopefully in about a year.

Candy, Mom to Matthew (5/02) and Ethan (10/07)

Trying for #3 starting 5/13

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#3 of 14 Old 06-16-2007, 01:11 AM
 
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#4 of 14 Old 06-16-2007, 01:20 AM
 
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have you tried a mortgage originator company instead of just a local bank??? they have alot more options as far as mortgages are concerned, any will most likley be able to offer you something better than abank (who sells all their mortgages back to mortgage companies anyways)


send me a PM if you want more of an explanation!
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#5 of 14 Old 06-16-2007, 10:28 AM
 
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I was going to suggest going through a mortgage company also. My brother couldn't qualify through the local banks (not bad credit, just NO credit) yet he got a great interest rate through a company.
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#6 of 14 Old 06-16-2007, 11:22 AM
 
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What the others said - I used Lending Tree and got fantastic rates. Both times the mortgage ultimately ended up with AMBRO - which is the largest mortgage holder in the US (maybe international). Anyhow, the rates were always much better than anything the banks could offer us.

I can totally relate about the moving. It sucks. However, if you buy there will be incentive to not move again. Owning can kind of keep you in one place much more than renting. KWIM?
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#7 of 14 Old 06-16-2007, 12:30 PM
 
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I totally relate on the moving. I've lost track of how many times we've had to uproot the family and move in the past 8 years. It sucks and now we have to do it again soon.
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#8 of 14 Old 06-16-2007, 12:47 PM
 
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I can totally relate. Last March, we were evicted from a house that we had been renting for 12 years! The landlord wanted to give it to his son. He had promised us that he would give us 6 months notice, but when the time came, he gave us 6 weeks :

DH and I had to move 90 miles away from where we had roots, in order to find a house we could afford that was still commuting distance to his work. We had to settle on this house, not get our 'dream house'

Shop around for mortgage, like PPs said, different companies have plans that may work for you.

Kristina; wife to Max, Mom to Tristan (17) and Zackariah (7) and Lillian (5)
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#9 of 14 Old 06-16-2007, 12:57 PM
 
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Hoping something works out. I know how you feel. This is our first house we've owned. I hated living somewhere and not being able to what I want... paint, real gardening, etc.

I really hope you find something to buy. Good luck. FTR, my dh wasn't thrilled about moving to a small town, but I've followed him around for his career and sacrificed a lot of things for myself. When it came time to shop for the house, I think he realized he had little say in the location. If we would have moved where he wanted to, we'd still be renting. Yuck. Of course, now he's seeing what a good investment this place is... THANKS TO ME!!!
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#10 of 14 Old 06-16-2007, 01:30 PM
 
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find a good mortgage broker!

With our first house we made to much $ and didnt have enough saved. Anyway one broker couldnt get a loan for us and people stared recommending this other broker for us. This broker got us into the house. We later sold that one and again the broker got us into another.

So start asking around to see who people recommend in you area.

I am so with you about renting. We moved 800 miles for dh job, house here are just : so we rent. I to paint and do things homeownership allows.
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#11 of 14 Old 06-16-2007, 01:37 PM
 
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I hate renting, too, but can't see ever being able to afford to buy here unless I want to work 80 hours/week and never see my kid.

$75 less than you're paying now is good, isn't it? And I'd think that owning and making timely mortgage payments would increase your credit score, so you'd have the option to refinance at a lower interest rate later. It's not ideal, but seems you have options, right?
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#12 of 14 Old 06-16-2007, 02:07 PM - Thread Starter
 
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Quote:
Originally Posted by Dragonfly View Post
I hate renting, too, but can't see ever being able to afford to buy here unless I want to work 80 hours/week and never see my kid.

$75 less than you're paying now is good, isn't it? And I'd think that owning and making timely mortgage payments would increase your credit score, so you'd have the option to refinance at a lower interest rate later. It's not ideal, but seems you have options, right?
Not good enough for DH apparently. Here's something REALLY weird, I called Countrywide mortgage today and they were not helpful. The guy at our local bank sounded more optimistic! My aunt is desperate to sell this house, does not expect to nor want to make money on it, she just wants out. She is willing to accept the past year plus a few months rent ( which adds up to about $8400 right now : ) and count that as our down payment. The trick is finding a lender who will accept this kind of deal, apparently banks used to but now they don't.
Dh had a bankruptcy that was discharged in 2004. Okay it happens. But he *promised* he would be responsible about his credit from then on. Well that wasn't true. He has one very small collection from when we moved out of Arizona that the place we lived in out there charged us for moving out before our lease ( tough shit, we had no choice but to move ) He has about 70 bucks remaining on it, has for several months, yet still hasn't paid it off and gotten the goddamned thing off his credit report. And there is ANOTHER collection there for 3 grand that we have no freaking clue what it is, so we need to dispute it and find out what is going on. Well, he does. It's his credit report.
It SUCKS. It just SUCKS. All of this stuff makes me hate him sometimes. He is irresponsible with money. Period. I want off the train. : : :
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#13 of 14 Old 06-16-2007, 02:36 PM
 
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I really hate renting too. Since my first dd was born we have moved 6 times. And the rents keep going up! For the amount we're paying to rent a run down, spider-infested, non-insulated, electrically-challenged, very small house with no storage, we could probably pay the mortgage for a 3 or 4 bedroom house in another state! And I don't know how we'll EVER afford to buy a house, since we live in SoCal. Moving is out of the question too since I signed an agreement with dd1's dad when we divorced that I would not move out of the area.
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#14 of 14 Old 06-16-2007, 11:12 PM
 
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I'm so sorry to hear all of that. I've been in a relationship with a person who was financially irresponsible and it's SO unsettling and frustrating. I hope things work out for you guys soon.
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