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Reply #58: Yes, but did you sign up for $1375 on an income of $35,000? [View All]

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BiggJawn Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-24-04 12:21 PM
Response to Reply #39
58. Yes, but did you sign up for $1375 on an income of $35,000?
What's your household income? 50 kilobucks? 75 kilobucks? 100 kilobucks?

My gross income was $35,000. I had a dependent child that I didn't get very much support from her mother (the prosecuter didn't want to help me bcause I was a man) and my mortgage was $700 a month.

Now, if I was making $70,000 a year, and had a $1400 payment, I'd still be in the same boat. so, that's why I asked you about your income. If you're bringing around 70 kilobucks into the household, you're in the same situation I was in.
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  -Rising U.S. Homeownership Brings Woes - Study dArKeR  Jun-23-04 12:40 PM   #0 
  - I may not be a minority  army12   Jun-23-04 12:44 PM   #1 
  - welcome to the DU army12!  baldearg   Jun-23-04 12:47 PM   #2 
  - I am thinking about  army12   Jun-23-04 01:05 PM   #7 
  - I haven't ruled that option out myself  baldearg   Jun-23-04 01:17 PM   #12 
  - Better check to make sure it is allowed through your mortgage holder! eom  tlcandie   Jun-24-04 10:23 PM   #81 
  - I can tell you.  Sunny_Sunshine   Jun-23-04 01:49 PM   #21 
     - Have you gotten a few bids?  hackwriter   Jun-23-04 02:11 PM   #23 
        - Got three bids  Sunny_Sunshine   Jun-23-04 02:22 PM   #26 
           - you're generally allowed three layers before a complete tear-down  Beaker   Jun-24-04 10:31 AM   #48 
  - So am I  camcb   Jun-25-04 12:05 AM   #90 
  - And yet I read in my Sunday "home" section of the paper..  Ripley   Jun-23-04 12:49 PM   #3 
  - It's not the bank's fault  Zenaholic   Jun-23-04 01:32 PM   #14 
  - I disagree. The banks should do due diligence on their customers. They  AP   Jun-23-04 01:38 PM   #15 
  - Yes it is  motivated   Jun-23-04 01:59 PM   #22 
  - I think you're completely wrong. I also believe Bush could never in a  dArKeR   Jun-23-04 02:20 PM   #24 
     - And there are predatory lenders who don't want customers to understand  DavidFL   Jun-23-04 05:40 PM   #37 
        - I agree with everything except the characterization that people are being  AP   Jun-24-04 09:43 AM   #44 
        - Good point.  Ripley   Jun-24-04 10:25 AM   #46 
        - "No longer working for the weekend..." Excellent characterization.  AP   Jun-24-04 10:34 AM   #49 
           - Am I reading you correctly?  downstairsparts   Jun-24-04 02:17 PM   #60 
           - Every year the New Deal was in place up to about 1973, the middle class  AP   Jun-24-04 02:22 PM   #61 
           - I will never forget the first time I truly realised what being in debt  tlcandie   Jun-24-04 10:33 PM   #83 
              - "The Dollmaker"  Tansy_Gold   Jun-24-04 10:49 PM   #85 
                 - YES!!! Thank you Tansy_Gold!!! eom  tlcandie   Jun-24-04 10:53 PM   #87 
                    - I should also know who wrote the book/story, but I can't  Tansy_Gold   Jun-24-04 11:22 PM   #88 
                       - In the book, she was indeed looking to carve Christ in the cherry wood  shrike   Jun-25-04 09:10 AM   #93 
        - Respectfully, I disagree  DavidFL   Jun-24-04 06:41 PM   #69 
        - I actually suspected that was the case.  AP   Jun-24-04 06:56 PM   #72 
        - Horsehockey.  mountainvue   Jun-24-04 09:12 PM   #77 
           - In most cases that is true. The banks just want the money.  NewYorkerfromMass   Jun-25-04 08:21 AM   #92 
              - I don't think it's "many"  mountainvue   Jun-25-04 09:11 PM   #94 
        - Closing costs  mountainvue   Jun-24-04 09:09 PM   #76 
           - Payday loans...loan sharks...what's the dif?  Ripley   Jun-24-04 10:32 PM   #82 
  - Bingo...  deseo   Jun-23-04 05:16 PM   #35 
  - "The American Dream of Home Ownership"....  BiggJawn   Jun-23-04 12:55 PM   #4 
  - BJ, I'm sorry that happened to you.  cliss   Jun-23-04 03:14 PM   #28 
  - Yeah, I wasn't "into" Real Estate to make money...  BiggJawn   Jun-23-04 04:54 PM   #32 
     - It sounds like you have a nice life  Pretty_in_CodePink   Jun-24-04 10:16 AM   #45 
        - Retirement?  BiggJawn   Jun-24-04 10:51 AM   #54 
  - I would kill for a $700 mortgage.. Ours is $1,375.04 a month  SoCalDem   Jun-24-04 08:46 AM   #39 
  - Yes, but did you sign up for $1375 on an income of $35,000?  BiggJawn   Jun-24-04 12:21 PM   #58 
  - Our income when we bought it was about $30 K higher than now  SoCalDem   Jun-24-04 09:09 PM   #75 
  - Just FYI...  Avalon Sparks   Jun-24-04 09:33 PM   #79 
     - That's what I found at $700/$35,000.  BiggJawn   Jun-25-04 07:44 AM   #91 
  - Mines $1,785  Xithras   Jun-24-04 06:55 PM   #71 
  - Sell it, get out before it's too late !!! (Just kidding :-) )  nolabels   Jun-24-04 09:01 PM   #73 
  - We can't afford to sell.. That's the pisser  SoCalDem   Jun-24-04 09:07 PM   #74 
  - Manufactured housing  mountainvue   Jun-24-04 09:17 PM   #78 
     - "Manufactured housing" is not an investment,  nolabels   Jun-24-04 10:37 PM   #84 
  - that stinks and I'm sorry  amazona   Jun-24-04 10:45 AM   #53 
  - There are loads of people with "money" who have house problems too  bleedingheart   Jun-24-04 09:42 PM   #80 
  - It is a trap, people think that if they can afford a certain rent  Timefortruth   Jun-23-04 12:58 PM   #5 
  - I'm renting but  jay-3d   Jun-23-04 01:03 PM   #6 
  - Save the difference between what you  Ilsa   Jun-23-04 01:15 PM   #10 
  - Home owning is beneficial if you shop carefully, even if you're single  Roaming   Jun-23-04 01:46 PM   #20 
     - Excellent point -- there were almost no condos  Ilsa   Jun-23-04 05:03 PM   #33 
  - Wait for the crash, or move somewhere with reasonable home prices.  AP   Jun-23-04 01:41 PM   #18 
  - See post #13  loftycity   Jun-23-04 01:43 PM   #19 
  - Another issue  Frodo   Jun-23-04 01:09 PM   #9 
     - I was one of those people.  BiggJawn   Jun-23-04 05:03 PM   #34 
  - Same thing Reagan did  DemonFighterLives   Jun-23-04 01:07 PM   #8 
  - Exactly  motivated   Jun-23-04 02:22 PM   #25 
     - Lucrative indeed  DemonFighterLives   Jun-24-04 08:40 AM   #38 
  - I can't afford my rent - owning a home is beyond possibility  Cronus   Jun-23-04 01:17 PM   #11 
  - MOVE.  DoNotRefill   Jun-23-04 03:54 PM   #30 
  - Actually, I think most of the population lives in a dwelling that they own  toopers   Jun-23-04 03:57 PM   #31 
  - A man's home is his hassle.  Journeyman   Jun-23-04 01:22 PM   #13 
  - Our county has the highest  JM   Jun-23-04 01:40 PM   #16 
  - One of my Portland friends kept urging me to buy a house or condo  Lydia Leftcoast   Jun-23-04 01:41 PM   #17 
  - The speaker ...  deseo   Jun-23-04 05:21 PM   #36 
  - Just wanted to comment on the write off thing  DemonFighterLives   Jun-24-04 08:50 AM   #40 
     - My house is paid for, too  shrike   Jun-24-04 09:22 AM   #42 
        - P.S. I have pets  shrike   Jun-24-04 09:36 AM   #43 
  - Some people with enough liquidity, are lining up to buy foreclosed homes.  Dover   Jun-23-04 02:31 PM   #27 
  - The only thing that works on an old house.....is the owner.  hightime   Jun-23-04 03:46 PM   #29 
  - Tell me about it. I have some major renovations going on right now  NNN0LHI   Jun-24-04 08:58 AM   #41 
  - Despite the many naysayers here,  MadHound   Jun-24-04 10:30 AM   #47 
  - great post !  ender   Jun-24-04 11:31 AM   #57 
  - in my area renting more expensive than buying  amazona   Jun-24-04 10:37 AM   #50 
  - "If you want to control a man, give him a mortgage"  nemdaille   Jun-24-04 10:37 AM   #51 
  - but you have less freedom with renting -- a lot less  amazona   Jun-24-04 10:57 AM   #55 
  - Actually, it's a metaphor . . .  nemdaille   Jun-24-04 11:10 AM   #56 
  - I've been wondering when we would start hearing about this  Pretty_in_CodePink   Jun-24-04 10:38 AM   #52 
  - "How many people can there be to buy all this property?"  downstairsparts   Jun-24-04 02:30 PM   #62 
  - I live on the west coast of Florida in the fastest growing county atm..  tlcandie   Jun-24-04 10:52 PM   #86 
     - excellent advice!  seekthetruth   Jun-24-04 11:29 PM   #89 
  - Not especially shocking  skippysmom   Jun-24-04 12:59 PM   #59 
  - If banks had a heart  Carolab   Jun-24-04 02:47 PM   #63 
  - The banker's reply  Frodo   Jun-24-04 03:12 PM   #64 
     - Things must have changed then  Carolab   Jun-24-04 03:18 PM   #65 
        - A little "yes" a little "no".  Frodo   Jun-24-04 03:36 PM   #66 
           - I disagree because  Carolab   Jun-24-04 04:12 PM   #67 
  - It's worked out great for us...  Beaker   Jun-24-04 05:39 PM   #68 
     - Need a tenant?  shrike   Jun-24-04 06:49 PM   #70 
 

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