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Why not just buy a house?

 

:thumbs: :applause:

 

Why not just give some money to do that with? It isn't that easy to buy a house for most people, that kind of money doesn't exist for most people.

It's a habit of people in this country to spend more then they have and get into finical trouble. Then they want to goverment to pay their bills for them. If you spend more money then you can afford to spend then it's your loss.

 

It sure was that easy up until last year, and mortgages cost the same, or were slightly more than what renters paid...with NO money down available in many cases. If this was done back then (my point), these renters complaining now would be the one they are complaining against.

 

That's painting with an awfully broad brush you have no business wielding. My wife lost her job in December, and I'm losing mine in two weeks. Circumstances dictate financial trouble. Very few people are in mortgage trouble due to wanting to spend more than they could afford. If banks truly thought that, they would never give the mortgage to begin with.

 

No, it wasn't that easy up until a yr ago. We've tried for years to buy a house. Theres just no money for us to make high monthly payments, which are a lot more then our monthly rent, not slightly. My husband will be 49 this yr. time wise we can't afford 30 yr. mortage. And if we did buy a house we wouldn't buy something we could not afford to pay for, as these people wanting goverment money did.
We've since given up ever having our own home..

 

So you disagree that people use credit and get themselves into finical trouble?

 

The price of the house dictates the mortgage payment (and credit rating). Were you working with a broker?

I'm not following your thinking. If you and your husband die before paying off the house, the bank holding the mortgage keeps the house. You are still "paying for it", and years should make no difference whatsoever. Only thing you lose is any equity you have gained. You gain nothing renting either.

"These people" were victims of predatory lending and circumstances, not criminal behavior like you are making it out to be. Do you even know what that means?

Why are the renters complaining in the first place? It sounds like they are the ones suffering from the "poor me" syndrome.

 

I didn't say that. I'm also not saying everyone is looking for a free handout like you are.

 

We have always been on the move so never bought a home. 12 years ago we bought our first. I was 56. Our home has over doubled in value. We bought what we could afford and refinanced couple years ago on a 15 yr mortgage and will most likely have it paid off by my wife's retiremnt (about 5 years).

30 year mortgage gets the monthly down some but 15 isn't that much different if you can afford it.

I know some cannot afford to buy, though until we made it a priority, we could never afford it either. The sad part is the 35 years of rent we paid with no equity :-(

 

I didn't buy when I moved about 15 months ago because it didn't look like a very good investment at that time. I was right.

 

Donna, the thing is that you can build equity that will help you in retirement, even if you have to sell the house at some point. There are also reverse mortgages where you can get paid a monthly check in old age from your equity. I'm not saying you should buy a house...but it is something to consider.

 

Theres no possible way to buy a house when you have no money to pay for it. We do not have the income for monthly payments, even if we could go with a 30 yr mortage. We tried that, it was nearly twice what we pay in rent.
We discussed the fact that if we owned a house we would have it available when we're seniors to seel if need be, if money were needed. ( a neighbor and her husband had to sell theirs 2 yrs ago because he got cancer and they needed money, he died last summer. His previous employer a local business bought it and allows her to live there). It brought this possible need to our attention.
The reason I say with my husbands age we could not do a 30 yr mortage is that he does a very physically demanding job, and has had many back injuries, he can not be certain of employment for that long.

 

So this applies to everyone whose losing their house becasue they can't pay for it? I think not. Mnay of these are actual bank loans, from theirown banks. If you buy a house and do not pay for it they foreclose. But some want the goverment to pay for their house for them.

If they want the goverment to pay their bills for them then they are looking for a handout. We know we can't pay for a house, thats why we don't buy one. There are people who don't care if they can't pay for a house, the goverment should bail them out.

 

"he can not be certain of employment for that long."

Not sure any of us can :-( I was very secure in my job when one Saturday morning our manager informed us that the entire dept. was terminated due to our jobs being contracted out to a company that used illegals :thumbsup:

Very few jobs are certain anymore, indeed not a lot of them were in recent years past.

You know your situation. There were times when we were there, in fact I'd guess we could have qualified for many welfare programs most of our married life.

 

"he can not be certain of employment for that long."

Not sure any of us can :-( I was very secure in my job when one Saturday morning our manager informed us that the entire dept. was terminated due to our jobs being contracted out to a company that used illegals :thumbsup:

Very few jobs are certain anymore, indeed not a lot of them were in recent years past.

You know your situation. There were times when we were there, in fact I'd guess we could have qualified for many welfare programs most of our married life.