We're buying a house.

[stevetheupsguy]

Steve. MIP is Mortgage Insurance Protection.

It was a joke, upstate, I was playing off of his, in case you die, statement.

 

[RockyRogue]

Thanks Rocky, where ya been?

Otherwise engaged . I lost my job in mid-February for 'unsatisfactory job performance.' I'd appreciate not getting my balls busted for this, folks. I moved moved south to Chicago to stay with family until I get back on my feet. I'm 25 years old. I haven't had this much trouble finding a job since I was 15! -Rocky

 

[stevetheupsguy]

Otherwise engaged . I lost my job in mid-February for 'unsatisfactory job performance.' I'd appreciate not getting my balls busted for this, folks. I moved moved south to Chicago to stay with family until I get back on my feet. I'm 25 years old. I haven't had this much trouble finding a job since I was 15! -Rocky

Sorry to hear that, and hope you find something soon.

 

[evilleace]

Nice place Steve looks like a good place for me to come stay when I want to enjoy the beach. Also just curious what is the average home price in your town because that house at that price is a steal in my town.

 

[satellitedriver]

Good tip, satellite. There are also equity accelerator programs offered by some lenders. The one I was in split my payment to bi-monthly when I refinanced. I went from 8 to 5% but continued paying the same amount. More of the payment is directed toward the principle when you pay bi-monthly and any extra over the payment is paid on the principle. Could save you years of mortgage payments.

I forgot about that planning. It was common in the late 80's early 90's.
Very good strategy.
I saved over $100,000.00 in interest payments, by applying re-fi and principle buy down on my home.

 

[satellitedriver]

Otherwise engaged . I lost my job in mid-February for 'unsatisfactory job performance.' I'd appreciate not getting my balls busted for this, folks. I moved moved south to Chicago to stay with family until I get back on my feet. I'm 25 years old. I haven't had this much trouble finding a job since I was 15! -Rocky

There is always Texas.
Best of luck friend and welcome back.

 

[RockyRogue]

There is always Texas.
Best of luck friend and welcome back.

Thanks, Satellite . Its become clear I need to go home and I've been applyimg for jobs in Texas like its going out of style. In fact, I have an interview with a place this week. Look straight west of D/FW. The next community of any real size is where the job is. -Rocky

 

[UpstateNYUPSer(Ret)]

Thanks, Satellite . Its become clear I need to go home and I've been applyimg for jobs in Texas like its going out of style. In fact, I have an interview with a place this week. Look straight west of D/FW. The next community of any real size is where the job is. -Rocky

Irving?

 

[UpstateNYUPSer(Ret)]

I recently tried to refinance but have not been in my house/mortgage long enough to have built up any appreciable equity. My monthly payment is $738 inclusive so I pay $800 each month--it's not much, but just doing that will shave 5 years or so off of my mortgage. I hope to be able to increase the additional principle payments to shave even more years off. The bi-monthly payment program makes a lot of sense as you are actually making 13 payments each year, not 12.

 

[bubsdad]

I recently tried to refinance but have not been in my house/mortgage long enough to have built up any appreciable equity. My monthly payment is $738 inclusive so I pay $800 each month--it's not much, but just doing that will shave 5 years or so off of my mortgage. I hope to be able to increase the additional principle payments to shave even more years off. The bi-monthly payment program makes a lot of sense as you are actually making 13 payments each year, not 12.

And you will be surprised at the rate the equity builds compared to the rate at once a month payments.

 

[Catatonic]

And you will be surprised at the rate the equity builds compared to the rate at once a month payments.

I normally pay $10k extra per year but between no raise and replacing the roofing, don't look like it's going to happen this year.

I enthusiastically support the early pay down of mortgage. In 6 years I am already paying twice as much in principle pay down than in interest (15 year mortgage).

 

[RockyRogue]

Irving?

Hey, UpState. How's goes?

I was born in Irving but no, not what I was referring to. This community is West Texas. -Rocky

 

[UpstateNYUPSer(Ret)]

Hey, UpState. How's goes?

I was born in Irving but no, not what I was referring to. This community is West Texas. -Rocky

Hi, Rock. Sorry to hear about your situation--I'm sure you will turn it around.

I spent 4 years in Lubbock; in fact, both of my kids were born there.

Good luck to you.

 

[RockyRogue]

Hi, Rock. Sorry to hear about your situation--I'm sure you will turn it around.

I spent 4 years in Lubbock; in fact, both of my kids were born there.

Good luck to you.

Thanks, Upstate. I'm working on it. I'm applying for 2-4 jobs a day if I can find them. I'm looking nationwide.

Yeah, Texas is beautiful. I've been saying for 20 years I'll go back. In the meantime, I've lived in Illinois, Colorado and Minnesota / North Dakota. Its time to find a nice Texas woman! lol. -Rocky

 

[dilligaf]

Nice house Steve. Congrats!

 

[stevetheupsguy]

Nice looking house.

I'm glad you are having it inspected, and I hope he's a pro. If it's already built I'd see if I could get in touch with any of your future neighbors and meet them and hopefully get some info that you could use. For ex. Do they have any issues in their house that cost them money recently. (Roof needed to get fixed recently, Septic system, electrical problems, cracking drywall etc.) In most developments the same builder built multiple homes, if you find other people with similar homes and they've had good luck great. If they had some issues, make sure your inspector checks, double checks and triple checks those areas of the house. If it's relatively minor, at least you can get the cost reduced of the house etc. If it's major, walk away.

Hopefully everything will turn out well for you. Good luck.

Spoke to 2 neighbors, and both are in the home owners association. I got great info from one, as he knew the neighbors and what went on with the house, while it sat there for 2 years, vacant. I really appreciate all of the advice that has been given, as well as the well wishers. If there is more advice, I'm way open to anything written. Here's fresh pictures of the house and the views.

I took pics from all angles.

 

[UpstateNYUPSer(Ret)]

$120K sounds like a really good deal.

 

[DS]

Im so jealous...huge yard,palm trees,man, ooky n me would be happier than a beaver in a birch forest.I'll trade you social security cards,free healthcare man!No taxes on lottery winnings!Whuddya say....

 

[stevetheupsguy]

Im so jealous...huge yard,palm trees,man, ooky n me would be happier than a beaver in a birch forest.I'll trade you social security cards,free healthcare man!No taxes on lottery winnings!Whuddya say....

LOL, tempting offer, but it's what you didn't include, that makes me wary.

 

[satellitedriver]

Spoke to 2 neighbors, and both are in the home owners association. I got great info from one, as he knew the neighbors and what went on with the house, while it sat there for 2 years, vacant. I really appreciate all of the advice that has been given, as well as the well wishers. If there is more advice, I'm way open to anything written. Here's fresh pictures of the house and the views.


I took pics from all angles.

I have an idea,
someone is gonna steal it and make a million.
Steve, you love to ride bicycles.
You have a huge yard to mow.
I intend to design a mower
(I can already see it in my mind)
that combines both.
A true green machine and will keep you off the dangerous roadways to get your exercise.
It is not just a bicycle pulling a reel mower,
(which would work),
but more of a ergonomic self powered mower.
Thanks for putting that bug in my head.
My passion is design and building, both of which have been on the back burners for the last couple of years.
Maybe, I can fund my retirement with my design.
Fat chance,
Sorry for my babble, but, I truly thank you for inspiring me.