By the way, before I start, sometimes I wish I was three years old again (Carolina and I decided that three was the optimal age we would like to be at…because…well, we had bad childhood memories in some of the later years…I digress). See, being three, your main worry was that mommy and daddy wants you to do your business in that bowl that might swallow you instead of this comfy soft thing that’s stuck to your butt. Adult life is full of unknowns, things you can’t control, things you get your hopes up and end up disappointing you.
In light of the great President Obama for extended the first time homebuyer’s tax credit incentive until April 30, 2010, Miller and I decided, hey, maybe we can shoot for buying a house instead of renewing our lease! We’ve been together for 6 years, we’re now married, and we’ve never had problems with paying rent, albeit we have $20k plus in credit card debt and a combined amount of nearly $50k in car loans. But hey, we’re ready…we have to live somewhere…might as well pay a mortgage than rent! We are ready for this commitment. We’re not going to make the same mistakes millions of Americans did in the last decade by purchasing a home on a whim that is way out of their budget. We are going to buy a house, within budget. We were going to aim low…maybe a 3 bedroom 2 bath around $150k to $200k….mortgage payment around what we pay in rent now. Reasonable...right? We both work and we know we can do this.
After all, the great Obama’s plan is to stimulate the housing market, giving people INCENTIVE to purchase a house. Obama’s “hope and change” set me up for great disappointment once again. Miller and I both have good credit, only issue was the debt-to-income ratio. Miller was out of work for a while because he was in the construction field. He has started a new job about 10 months ago in a new field. He’s working…that should count for something right? In the midst of MILLIONS of unemployed bums.
Nope. Idiots like my parents can screw up time and time again and own 8 properties, no doubt losing couple of properties along the way. Somehow, they qualify for refinances, loan modifications, and equity lines. But US…NOPE. Can’t even qualify to buy our FIRST home. Why? Because they wouldn’t take Miller’s income into consideration. Because he hasn’t been in this new field “long enough”, because he was out of work for a while. Had it not been all these IDIOTS who screwed up the economy, Miller would have had an awesome job history!!!!
NOT because we have bad credit, not because we can’t afford it with BOTH our incomes, no. Because they wouldn’t even take his income into consideration WHATSOEVER. Wow. We are BOTH working for crying out loud! That’s a miracle in today’s world. We’re not looking to buy a $500k house, not even a $300k house. $200k was are “high”, that was the “ceiling”!
I know, life is unfair, we could be worse off, I know. But, this is just absurd. We’re prepared to make the commitment and promise to purchase a house. We have the MEANS to do so. We would love to help out some poor family who must short sale their house ASAP. We would love to take up a foreclosed house with a dead lawn and revitalize it. And hey, this means that a bank will actually be PAID for the house instead of letting the grass die and the house fall apart. I hate how we have no say and no control over this whatsoever. I know, mortgage is a business…so human compassion doesn’t come into play. But, but, but, but, but…..*sigh* I understand. I’m not the most compassionate person myself, so I understand.
Hrphmmmm. I feel better. Miller and I spoke. This is not the end of the world. We have a plan. Pay down some of our credit cards and let Miller establish his work history again. Rent a house possibly…and start getting some of the big ticketed items (i.e. washer, dryer, and refrigerator). Yeh, we miss the $8k incentive, but we’ll be okay. There are other opportunities on the horizon and everything happens for a reason. I can blame the economy and everything all I want, but it won’t change anything. We are the ones who are in control of our own lives. Economy sucks, life sucks, and we work through it.
-Emma
