Montana n: A state of the northwest United States bordering on Canada. Admitted as the 41st state in 1889. The fourth largest state in the union, it includes vast prairies and numerous majestic mountain ranges.
Syn: Treasure State, Big Sky Country, Last Best Place.
Jones n: slang. An addiction or very deep craving.
Wednesday, March 14, 2007
Buying and selling
- Me:
- Well, the radon test results are now a moot point. My financing has been shot down.
- Dad:
- Uh-oh.
- Me:
- Yeah, I'm pretty bitter about that. I have some options, but I am angry right now so I'm not gonna make any decisions until I've cooled off.
- Dad:
- So what did R have to say about it?
- Me:
- Not much. She did give me the name for a different mortgage guy but she was thought the problems I have with the bank I will have everywhere.
- Dad:
- What about a down payment? You can probably change the numbers in your favor with a larger down payment.
- Me:
- The few thousand dollars I have to throw at it won't make enough of a difference. To get the bankers to pay attention I will need about 10 to 20 percent of the asking price.
- Dad:
- You should try to find out what the minimum down payment you need is. The bank of mom might be able to help.
- Me:
- Hmmm Okay, I will look into that.
- Dad:
- Does the bank have any other options?
- Me:
- Yeah, but not good ones. They have a higher interest rate that I can't afford. Funny how my income is too high for the affordable housing people, to low for the board of housing people, and the first thing the bank can suggest is a bigger cut for themselves and a higher payment I can't afford.
- Dad:
- Welcome to being in the middle.
- Me:
- I would never have gotten into this process if it wasn't for the bank giving me a good faith estimate that I could afford this thing. Two of them even. Now it feels like a bait and switch. The banks good faith estimates are loosing credibility with me. Did I mention I am pretty angry about this?
Labels: angry, bait and switch, bank, buy, conversation, dad, financing, money, real estate
There is more Jones in the archives: February 2005 March 2005 April 2005 May 2005 June 2005 July 2005 August 2005 September 2005 October 2005 November 2005 December 2005 January 2006 February 2006 March 2006 April 2006 May 2006 June 2006 July 2006 August 2006 September 2006 October 2006 November 2006 December 2006 January 2007 February 2007 March 2007 April 2007 May 2007 June 2007 July 2007 August 2007 September 2007 October 2007 November 2007 December 2007 January 2008 February 2008 March 2008 April 2008 May 2008 June 2008 July 2008 August 2008 September 2008 October 2008 November 2008 December 2008 January 2009 February 2009 March 2009 April 2009 May 2009 June 2009 December 2009 January 2010 May 2014
