I know you are'nt asking for advise, but this IS a buyers market, and it should be easy to get a mortgage that is equal to or less than rent...
It's a buyer's market, but only for buyers who can qualify for a mortgage. I am now self-employed, so I need to wait a couple of years before I think about trying for a mortgage. I tried for one during the gravy times we enjoyed before the current credit and mortgage crisis, and couldn't get one, so I doubt I would qualify for one now. Plus, we are most likely going to move out of this area when my son graduates.
I'm hoping to buy a house in a year or so. Trying to clean up my credit though. It's not horrible, but I need to get things cleared, like my medical bills from my surgery a couple years ago!
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I've gone and done it now! I'm on Facebook!!!
Sister, my guess would be that your need for credit, if you own your home free and clear, would be just about non-existant. I know some folks who have saved so much money after becoming debt free that they pay cash for any vehicles they buy, any remodeling projects they do on their homes, and any other big ticket items they may need. I have yet to even buy a home, so I can't imagine what being debt free would be like from that perspective. I definitely know what it means to be debt free 'cause no one would loan me money though!
Rico, it took ten years to get back on our feet and have what we have today , we sold our house and all the toys we had, turned around paid everything off and began over. If we could not pay with cash we didn't need it, well it paid off, we did things in steps. We didn't want go back to being renter after owning, so we bought a large 5 bedroom and two bath modular home , used one 01, not a junker four years ago, paid in full, put it on least land. Last year we bought 10 arc of land, paid it in full just finished putting in all the improvements, looking to move in by Step. Same with our cars and truck, no they are not brand new, but not junkers, truck 04 car 03 the other 06, paid in full. The four wheelers we bought this spring brand new, paid in full, so not having dept been a blessing for us. We made sure never to get in credit card dept again, it just about killed us!
I believe in credit cards. I believe because I see them every time I open my wallet. We also have quite the balances on them right now since we effectively lived off of a couple for the first two months after our move. But now we're paying them down big time.
I have no idea who "Doug Ramsey" is but his approval (or disapproval) of credit cards is pretty irrelevant to me. I'll be he is good in the wrestling ring though! ("Ramses' number one he knows the secret of desire. Ramses is the one, he puts the people all on fire...."
I know that Dave Ramsey really teaches against credit cards period, no exceptions. I have credit cards, but pay them off faithfully at the end of each month. I get lots of airline and hotel points, so I feel like it's good stewardship, rather than bad. But Dave says that you're letting man's system have your money, even if it's for less than a month, and he thinks that's wrong.
What think ye?
I believe that having credit cards is good as long you're being a good steward, otherwise they wouldn't be good for people who can't control their spending with credit cards.
I see. I thought you thought I was saying you didn't need a payment history. You were talking about a payment history, and I was talking about debt ratios. At any rate, they both play a role in getting credit.
At the rate I am going, I will never buy my own home. I am 41, have no interest in signing away 30 years of my life, and have no prospects for a huge load of cash being dumped in my lap.
Rico, I believe you will own your own home in this life-- even if it means someone simply gives you one.
I'm just stating what I believe, nothing more.
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"The choices we make reveal the true nature of our character."
Rico, it took ten years to get back on our feet and have what we have today , we sold our house and all the toys we had, turned around paid everything off and began over. If we could not pay with cash we didn't need it, well it paid off, we did things in steps. We didn't want go back to being renter after owning, so we bought a large 5 bedroom and two bath modular home , used one 01, not a junker four years ago, paid in full, put it on least land. Last year we bought 10 arc of land, paid it in full just finished putting in all the improvements, looking to move in by Step. Same with our cars and truck, no they are not brand new, but not junkers, truck 04 car 03 the other 06, paid in full. The four wheelers we bought this spring brand new, paid in full, so not having dept been a blessing for us. We made sure never to get in credit card dept again, it just about killed us!
We've thought about taking a similar approach. Ours was to buy a mobile home with one of our tax checks. You can find an older three bedroom for cheap. The problem with that plan is that we have 4 children, so that would mean 6 people in a mobile home, most likely in a mobile home park. That is a recipe for a lot of stress and arguing. Plus, I need a quiet place to work, and trailers aren't very well insulated against noise. So, we are going to wait and see what happens. We are trying to save some money in case we come across a sweet deal on buying a house on contract.
We've thought about taking a similar approach. Ours was to buy a mobile home with one of our tax checks. You can find an older three bedroom for cheap. The problem with that plan is that we have 4 children, so that would mean 6 people in a mobile home, most likely in a mobile home park. That is a recipe for a lot of stress and arguing. Plus, I need a quiet place to work, and trailers aren't very well insulated against noise. So, we are going to wait and see what happens. We are trying to save some money in case we come across a sweet deal on buying a house on contract.
Unless you can buy a newer mobile I'd pass. Sense you've never owned before look into HUD housing.
Unless you can buy a newer mobile I'd pass. Sense you've never owned before look into HUD housing.
Sister, I'd love to have one of those older metal roof type of trailers. I've lived in them before and had no problem with it. It's just that our family is too big for a mobile home, even a 16 x 80. I do happen to know about some land someone has for sale, not too far from here. I am hoping the Lord has put a hold on that land for me until He sends me the money to buy it. It has a garage, a burned out trailer, and a small outbuilding that would be a perfect bachelor pad for my son. If we can get that land, a 3 bedroom trailer would be ok for us to live in. We'll have to haul off the old trailer that's on the land now, but that won't be too big a problem.
I know that Dave Ramsey really teaches against credit cards period, no exceptions. I have credit cards, but pay them off faithfully at the end of each month. I get lots of airline and hotel points, so I feel like it's good stewardship, rather than bad. But Dave says that you're letting man's system have your money, even if it's for less than a month, and he thinks that's wrong.
What think ye?
Man's system? Money? Money is man's system. Man prints our money. They devised our economic system. If that is the best Dave can do then I'm afraid he has no valid argument for teaching against credit cards
__________________ Let it be understood that Apostolic Friends Forum is an Apostolic Forum.
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There is One God. This one God reveals Himself distinctly as Father, Son and Holy Ghost.
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I am 41, have no interest in signing away 30 years of my life, and have no prospects for a huge load of cash being dumped in my lap.
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