View Full Version : New (to us) home!

04-30-2009, 04:31 AM
Thanks to my dad receiving an inheritance from a death in the family, my parents were finally able to buy a house that fit within their budget, and we closed on Monday. This was actually the 2nd house we signed a contract for, the 1st one fell through because it was a short sale and was discovered to have 3 liens on it from the owner taking out 2 mortgages.

Now this involves my too because I decided to put my name as a co-signer on the deed and the mortgage. If you're wondering why, it's not because I "want to live with mommy and daddy forever," it's because it was to make it easier for them to get the loan. The bank told them 6.75 percent - that is an insult, considering my dad's credit it excellent. With my name down it dropped to below 5 percent.

Plus, while I'm living with them it builds my credit so win-win.

The house itself is a 3/2 and due to the housing market we negotiated a priced that after down payment results in a mortgage that is less then what we are currently paying in rent. On my days off I'm going to be helping my folks out with some spruce-up work, and by the time we move in in late May it will look even better than it is now.

This takes the sting out of my employer being dicks, that's for sure.