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No, it won't own me, I will own it. At $420 I will be able to make a few extra payments a year and save for a roof and that's without a roommate. My credit score is over 800, I pay my bills, I do without and know how to get by and make ends meet. You must be thinking of how you spend money and how it would own you in the same situation.
There's one thing I don't do and that is take financial advise from broke people. Before you go around telling people about their financial situation you might want to check yours first. I've been through financially hard times with raising a family on top of that. The most recent being last November and May. All while never missing a mortgage payment. That even includes flying a family of 5 out to a wedding in California for a close family member that was already planned before the job loss. Went 2 months without income. If you want to know my spending habits you can start by chopping up your credits cards and cancelling them. That's how I roll. I don't need a FICO (aka "I love debt..") score to brag about.
There's one thing I don't do and that is take financial advise from broke people. Before you go around telling people about their financial situation you might want to check yours first. I've been through financially hard times with raising a family on top of that. The most recent being last November and May. All while never missing a mortgage payment. That even includes flying a family of 5 out to a wedding in California for a close family member that was already planned before the job loss. Went 2 months without income. If you want to know my spending habits you can start by chopping up your credits cards and cancelling them. That's how I roll. I don't need a FICO (aka "I love debt..") score to brag about.
You judge me and you don't know my situation. You think you are better than me and I can tell you that your are not. I don't think anyone is better than anyone else. I think some people are either more fortunate or less fortunate than others. I feel the ones who judge others and think they are better are less fortunate.
You judge me and you don't know my situation. You think you are better than me and I can tell you that your are not. I don't think anyone is better than anyone else. I think some people are either more fortunate or less fortunate than others. I feel the ones who judge others and think they are better are less fortunate.
"I think this low appraisal is gonna kill my dreams to buy the home I need"
After reading this post I think I have a pretty good idea of your situation. You are pretty much broke and desperate to buy a black hole of a home. You have no clue what you are about to encounter.
After reading this post I think I have a pretty good idea of your situation. You are pretty much broke and desperate to buy a black hole of a home. You have no clue what you are about to encounter.
I wish you well, and I see you for what you are. I bet you hate that.
Your comments so far have been very misleading. You are complaining about your life in a thread about how to do low income home ownership, when you already own a home. You should be bragging, not whining.
I also didn't tell you to quit your job. You claimed that your job/commute was the problem, so I suggested you change the commute. I also didn't suggest you buy a comparable house, I suggested you buy the house nobody else wants and then fix it up. From your comments, I had assumed you were renting.
I can see where you might have thought I was renting. I should have been clearer. I am not bragging about the house I bought because I should have known better than to buy it. The timing was wrong and I didn't leave any margin for error, like maybe losing my job or suddenly being faced with a long commute.
I sold that house less than 2 years after I bought it (and I'm in subsidized housing now), but the OP wanted to know how a low-income person bought their house, and I answered him/her.
The only way to change that commute would have been to quit my job. You couldn't know that there are no "affordable fixer-uppers" at a price I could afford where I was working, which was in downtown Seattle. Seattle neighborhoods tend to be very pricy. I might have been able to get something further out, but then I would have been stuck commuting again or driving in and paying garage fees (horribly expensive in Seattle). I chose to get a job closer to home, which also didn't turn out to be the best thing.
There's one thing I don't do and that is take financial advise from broke people. Before you go around telling people about their financial situation you might want to check yours first. I've been through financially hard times with raising a family on top of that. The most recent being last November and May. All while never missing a mortgage payment. That even includes flying a family of 5 out to a wedding in California for a close family member that was already planned before the job loss. Went 2 months without income. If you want to know my spending habits you can start by chopping up your credits cards and cancelling them. That's how I roll. I don't need a FICO (aka "I love debt..") score to brag about.
A person can have a 800+ FICO and never have carried a credit card balance, bought a car on payments or financed anything other than a first home mortgage...
I can see where you might have thought I was renting. I should have been clearer. I am not bragging about the house I bought because I should have known better than to buy it. The timing was wrong and I didn't leave any margin for error, like maybe losing my job or suddenly being faced with a long commute.
I sold that house less than 2 years after I bought it (and I'm in subsidized housing now), but the OP wanted to know how a low-income person bought their house, and I answered him/her.
The only way to change that commute would have been to quit my job. You couldn't know that there are no "affordable fixer-uppers" at a price I could afford where I was working, which was in downtown Seattle. Seattle neighborhoods tend to be very pricy. I might have been able to get something further out, but then I would have been stuck commuting again or driving in and paying garage fees (horribly expensive in Seattle). I chose to get a job closer to home, which also didn't turn out to be the best thing.
You win some, you lose some.
The killer in your schedule is the ferry rides. There are perimeter communities on the same side of the sound as Seattle.
A person can have a 800+ FICO and never have carried a credit card balance, bought a car on payments or financed anything other than a first home mortgage...
"According to the report, those with scores greater than 750 exhibit similar credit habits. They use 7 percent of their available revolving credit, their oldest credit account was opened an average of 25 years ago, and they have an average of seven credit cards, including both opened and closed accounts."
My first card was something I was proud of... 18 and had just gone off to college... Sears had an offer and I signed up.
Showed it to my Grandparents and my grandmother got quite upset... said a lot of people have been ruined by credit cards... so I promised to never carry a debt.
"According to the report, those with scores greater than 750 exhibit similar credit habits. They use 7 percent of their available revolving credit, their oldest credit account was opened an average of 25 years ago, and they have an average of seven credit cards, including both opened and closed accounts."
I got to an 800 plus score with no balance left on my card at the end of the month, I used my cards but paid them off every month. I actually was able to pay me rent for a while on my credit card because the office did not accept cash for safety reasons, so I always paid it off right away and got a nice cash back bonus.
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I've been through financially hard times with raising a family on top of that. The most recent being last November and May. All while never missing a mortgage payment. That even includes flying a family of 5 out to a wedding in California for a close family member that was already planned before the job loss. Went 2 months without income. If you want to know my spending habits you can start by chopping up your credits cards and cancelling them. That's how I roll. I don't need a FICO (aka "I love debt..") score to brag about. 
