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Old 07-12-2013, 02:00 PM
 
3 posts, read 3,787 times
Reputation: 25

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I was about to purchase a house from Lenner but decided to cancel it since my payment went up over $200 just in last 30 days. Anyone in the same boat like us that has made similar decision?
It sucks but we are not overextending ourselfs on this one.
We will rent for another year and see what happens next year or the year after.
I think best time right now is to back off from the housing market. We will do just that.

 
Old 07-12-2013, 02:05 PM
 
2,180 posts, read 4,536,461 times
Reputation: 1087
it's just going to get more expensive in the future... both in purchase price and in terms of borrowing.
 
Old 07-12-2013, 02:23 PM
 
11,175 posts, read 16,014,540 times
Reputation: 29925
I love how the OP took the time to register and post just to insinuate that the rise in mortgage rates is hurting the housing market. The best part of the troll post is that the OP doesn't even know how to spell the name of the builder from whom she was allegedly purchasing the house.
 
Old 07-12-2013, 02:24 PM
 
3 posts, read 3,787 times
Reputation: 25
Quote:
Originally Posted by MSchu View Post
it's just going to get more expensive in the future... both in purchase price and in terms of borrowing.
Well non of us have cristal ball so I will take your comment with a grain of salt.
Something has to compromise in the future and it won't be interest rates.
I expect home prices will come down.
Thanks
 
Old 07-12-2013, 02:30 PM
 
3 posts, read 3,787 times
Reputation: 25
Quote:
Originally Posted by MadManofBethesda View Post
I love how the OP took the time to register and post just to insinuate that the rise in mortgage rates is hurting the housing market. The best part of the troll post is that the OP doesn't even know how to spell the name of the builder from whom she was allegedly purchasing the house.
[mod cut-- personal]
I'm asking if there are potential buyers out there who are in similar situation as I'm.
Not looking for existing homeowners for their opinion or advise.
Thanks
 
Old 07-12-2013, 02:35 PM
 
Location: Metro Phoenix, AZ USA
17,914 posts, read 43,408,068 times
Reputation: 10726
Stay on the topic, please, rather than discussing one another. Thanks.
 
Old 07-12-2013, 03:05 PM
 
Location: Paradise Palms, Las Vegas, Nevada
555 posts, read 1,259,046 times
Reputation: 712
Quote:
Originally Posted by Tina1976nv View Post
I was about to purchase a house from Lenner but decided to cancel it since my payment went up over $200 just in last 30 days. Anyone in the same boat like us that has made similar decision?
It sucks but we are not overextending ourselfs on this one.
We will rent for another year and see what happens next year or the year after.
I think best time right now is to back off from the housing market. We will do just that.

The best advice for anyone, who can't afford or feels they will not be able to afford, a mortgage payment is to not purchase a home at all right now. There was enough of that during the economy crash, so kudos to you for being wise and backing off from something you can't afford.

Not a lot of people did what you are doing (backing off from buying a home when realizing they really can't afford it) and a lot of those homeowners-mortgage holders lost their homes!

Good luck to you, maybe while you are renting you can build up some savings and plop down a good down payment and keep that future mortgage payment affordable for you!
 
Old 07-12-2013, 03:58 PM
 
Location: Kissimmee
347 posts, read 511,818 times
Reputation: 508
The problem is builders will build what buyers can afford so the net result will be smaller houses and apartments for the same money that would buy a larger home now. You may feel you deserve a nice large house but I am afraid you have missed the boat by not buying 2 years ago.
 
Old 07-12-2013, 04:28 PM
 
2,928 posts, read 3,550,907 times
Reputation: 1882
No the problem is the OP's name is eerily familiar to the troll that continues to persist on this forum. He's just trying to disguise himself this time so that he can lay down his trolldom later down the thread.
 
Old 07-12-2013, 05:47 PM
 
Location: Las Vegas
91 posts, read 260,770 times
Reputation: 66
didn't you lock into a mortgage before that happen
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