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Redgirl · 05-07-2004, 06:38 AM

I noticed this thread started way back in Feb and you are still looking for a house? That's a long time to shop around!

I know you said your job may be jeopardized soon due to management changes, but if you're still considering the house thing I have some advice. We bought a house that had gone through foreclosure and got it cheap, cheap, cheap. And there was nothing wrong with it! Sometimes people junk them on their way out just to be assholes, but these people didn't do that and even left the fridge and curtains. So if you look long enough you could get lucky and find a foreclosure that is in good shape. Our house is worth about 100K and we paid 72K for it.

Plus about the loan: Look for houses listed as Freddie Mac. This is a program where you only have to put 5% down but there's NO PMI. You don't have to take out any other loans. We just did an FHA loan, put down our 5% and have a lower house payment than we did at our apartment.

So if you do it right, you can actually save money, or at least be about the same, with a mortgage instead of rent.

05-07-2004, 06:38 AM	#19 (permalink)
Redgirl Addict Location: Native America	I noticed this thread started way back in Feb and you are still looking for a house? That's a long time to shop around! I know you said your job may be jeopardized soon due to management changes, but if you're still considering the house thing I have some advice. We bought a house that had gone through foreclosure and got it cheap, cheap, cheap. And there was nothing wrong with it! Sometimes people junk them on their way out just to be assholes, but these people didn't do that and even left the fridge and curtains. So if you look long enough you could get lucky and find a foreclosure that is in good shape. Our house is worth about 100K and we paid 72K for it. Plus about the loan: Look for houses listed as Freddie Mac. This is a program where you only have to put 5% down but there's NO PMI. You don't have to take out any other loans. We just did an FHA loan, put down our 5% and have a lower house payment than we did at our apartment. So if you do it right, you can actually save money, or at least be about the same, with a mortgage instead of rent. __________________ Thought for the day: Men are like fine wine. They start out as grapes, and it's up to the women to stomp the crap out of them until they turn into something acceptable to have dinner with.