…make lemonade. But I think that our house might be a bit too large to squeeze it.
I am referring to the several THOUSAND dollars we have spent in the last 2 days on stuff that had to be fixed, namely faulty out-of-code electric stuff and termites, which we cannot afford to pay so they are eating our house as we speak.
Shouldn’t there be joy in having a first home? Instead we have swapped noisy neighbors for a financial head ache.
We also thought that we were saving money by going with a semi-monthly mortgage payment, but upon further inspection of the fine print we see that the “middle man” just collects the money and then makes the full payment to the mortgage company on the due date. I am guessing they make interest off of our payments for the time they have the money. The whole point was to save money on interest on reducing the amount of principal twice a month thereby reducing the amount of interest paid.
Every last penny, and all the entire limit on our 2 credit cards have gone into this house; we have yet to get furniture for out still naked living room.
In listening to an NPR story I learned the term “jingle mail” in reference to mortgage companies. It is when instead of a payment in the mail, they get the owners keys. It is happening very frequently in this housing crisis we have now. I have to say the thought of giving up has crossed my mind, but could not happen because:
- I do not want to pack again
- I do not want to ruin our credit for 7 years
- and we could not afford all the up-front fees of leasing
I am so ashamed of failure, but I think this is what it is looking to be, at least with our current finances. I think we will get by. In a few months, we might be out of the woods.
I can’t have a house warming party until this feels like a home, and to do that will cost money, of which is in short supply. I think it will be like our planned wedding and just not happen.
If having a house is this much of a burden, why the hell would anyone plan to have kids?
April 11th, 2008 at 10:04 pm
the home inspection which should have been required by the lender should have uncovered the electrical and for sure any termites. There should be some recourse for being out those expenses that should have been uncovered before the contract was signed.
April 12th, 2008 at 7:45 am
So sorry about the shocking “house” you’ve been sold. Wish I’d had a more aggressive approach to your plans. It might not have helped. We’re not used to such dirty dealing around here.
And yes, you might want to invest in a suite against either/both the mortgage holder or the home inspector (surely there was one). A small claims court filing could cost you as little as $100. - $200.
Keep careful records, etc and an attorney would be optional. Love Grandad, BAV
April 12th, 2008 at 10:36 am
The guy who had the house before us never paid his electric bill so there was no electricity for the inspector to check. The inspector did mention that the meter base needed to be secured better to the exterior wall.
As for the termites, when the inspection was done, it was dormant season for termites. He told us to check in the spring and we did. This whole area has termites we later learned.
April 12th, 2008 at 7:16 pm
OK - so I was quiet when y’all lived over your heads apartmentwise at the loft and didn’t say anything when you bought a house bigger and nicer than any of your parents ever hadr - hope you’ll get over me saying this now - I see only one way to fix the situation you are in now and that is to go back to a job that pays living wage money such as Buffalo Wild Wings was paying and if you want a sex related job that can be a fine part time job or volunteer work. An extra $20 K a year would put you closer to where you need to be. I have worked 50-70 hours a week my entire life because it is what I had to do and just tried, really tried sometimes, to find some ways to enjoy it at some level. Relationship-wise, even now Jan goes to work Sunday afternoon and most weeks I literally do not see her again til Wed. evening. I do wish for y’all you are able to have it better before you reach my age
April 13th, 2008 at 9:08 pm
I understand where you are coming from Wade, but we have a slightly different situation than you did at our age. The biggest of which is we don’t have any kids. I do miss the money at BWW; the 50k was nice, BUT it was not worth the stress to me. I am very happy now and just got a huge raise-more than anyone else in the history of the company. We are not living above our means at all, we live right at it, so when a mid sized issue occurs, it sets us back, but we will recover. Our generation really does not have “savings” at all and we pay the price for that. As far as work and relationships go, Dean actually took a vacation day last week so we could see each other. That was the first time in a month we had a day off together because I work nights and weekends and he works days.
Wade I wish you were able to follow your dream and not settle, but I know you did it for your new family. If only more people could have your level of selflessness. Dean got lucky and was able to go straight into is dream job AND get paid well for it. I am having to work harder to get to my place, but I am just grateful that I have the option to choose unlike you did.
On a future note, I write when I am very excited or stressed, so my words are usually more rash than the situation merits. I just get down -and being a pessimist- I think of the worst and write about it. Even though I am usually not a very emotional person, my writing is full of it.
May 15th, 2008 at 12:21 pm
Well, I’ve been so busy working two people’s jobs that I haven’t looked at ya’ll’s blog in over a month. Oops! So I just now read the posting above.
Yeah, home ownership is not for the faint at heart. But ya’ll’s place is very cozy. The fact that it’s sparsely furnished for now is just part of being in your first real home.
We got those mailings too when we moved in August 2006 and had a new mortgage — but saw they involved a third party. You’re probably not losing money on the deal, someone else is just realizing the savings you would otherwise have if you were making twice-weekly payments directly to your mortgage company. I agree with Dad that you should at least threaten to take that outfit to court.