fandomsecrets | [ SECRET POST #2706 ]

⌈ Secret Post #2706 ⌋

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Notes:

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Flat | Top-Level Comments Only

I don't know if you'll see this this late, but thank you so so so much!

I'm trying to keep in mind that things were much different in her generation but it's hard, especially when my brother's bought into the same mindset. Although I did have the same thought you mentioned, back when he first bought his house and was giving me all sorts of shit about living in an apartment, that he doesn't own it, the bank does. Thanks for reminding me of that, because it does help me look at it in a different way.

I did some research yesterday and found a bunch of foreclosures, including one that's pretty much my dream home and is well within my price range, but my mom said foreclosures involve a lot of extra paperwork and it would take at least 6 months for everything to go through and at the end of that time they could still change their mind about letting me buy it and it isn't really worth it. It's starting to sound like she has no clue what she's talking about though so I guess I need to just find a banker to talk with maybe? Or a realtor? I'm not sure what my first step should be, honestly.

Either buy cheap and sell large (that's what I've done, I own my place outright, and don't owe anyone for it, and will stand to make a literal 1000% profit on it when I sell), or keep renting and be happy. I still have debts, although not as much as I did from the first place I owned, and if anything happened tomorrow, I could sell off and be very comfortable for several years. But my situation is pretty much unique, and when I sell my current house, I likely will rent again, for the convenience, the frugality, and just the general freedom of not being tied down to something I don't even own.

If you don't mind me asking, how did you come to be in your situation? Did you buy a foreclosure?

Thanks for all the mortgage info! I didn't realize it worked that way with the interest rates. My mom said hers changed a little each year (so I guess hers is a variable rate one from what you've said?) but that it was never very much and it was no big deal at all. She's had her house for almost 40 years I think and I'm not sure about a second mortgage but I know she's had it refinanced a bunch of times and still owes a bunch on it. And my brother had to get a second mortgage to buy his in the first place (at least I think that's what my mom called it) because he didn't have enough for a down payment. He apparently way overpaid for his (it's a lot smaller and nowhere near as nice as my mom's and is in kind of a dangerous part of town, and he paid a lot more than hers is worth) and a couple months after moving in he had to get a roommate because he couldn't afford the monthly payments. Plus he's had a bunch of problems he's had to pay to fix because apparently the inspector wasn't very good and missed a bunch of issues with the house. So when that was all going on I thought "thank god I live in an apartment" but since then they've managed to get me all depressed again about not owning a house.

And my mom keeps saying to just buy a house and if I end up not liking it and want to move I can just sell it and go somewhere else because "buying a house is never a bad investment" and she's "never heard of someone who didn't make all their money back when they sold their house" but it sounds like that's not the case from what you're saying. Oh, and also she's mentioned several times about paying more each month to try to pay her house off quicker but you said you can't do that?

I don't know, all this is really making me want to just find another apartment and be done with it. To me it's always made perfect sense, I pay each month for somewhere to live, and the convenience of not having to fix (or pay to fix) anything myself, and not being stressed about having to worry how to pay a mortgage if I lose my job or something (depending on where I was in a lease I might owe a few thousand dollars or something but that's nothing compared to like a couple hundred thousand).

Anyway, thank you SO much for posting all this, it's helped me a lot and given me a lot to think about. :)

[ SECRET POST #2706 ]

Re: Completely lost and confused and miserable right now