Never Owning Last House (love, small, Michigan, property)
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There has to be more to the story. Unless the landlord's own house burned down in Nov so he/she is now suddenly homeless and needs the house emergently, I can't see why the landlord would not have given the notice several months in advance. The tenant must have done something bad. Being a good customer for 25 years and an 84 year old widow still does not give right to violate terms of the lease.
Why does it have to be the tenant that did something "bad"? Maybe the landlord needs money for one thing or another and wants to take advantage of a hot real estate market with big profits?
My first mortgage was 16% in 1982. 2nd mortgage in 1988 was 8.99%. If only I had a crystal ball.
We bought our 1st house in Chicago in 1979. They had a special, 1st time home buyers rate. It was around 8% and the going rate was close to double. I remember my dad telling us to put down the minimum and take it for as long as you can. Because 'you will never see rates this low again'.
We moved to Wisconsin in 1987 and actually paid cash for our 1st house here. We built about 13 years ago. Two years ago we refinanced....30 years at 3%. We are fine with carrying a mortgage for the rest of our lives.
The norm in America is likely people with no choice and likely no questions , since things are what they are as they have little in the way of resources to have choices
The forum questions come up when people have choices .
They have money to make choices with , they have property to make choices with , they have choices in investing , taking mortgages or not , etc …
The norm is going to be very different as well in forums since people are there because they have an interest .
A personal finance forum or investing forum is likely to have those with money ..that is the norm .
A retirement forum is going to be mixed ..you have those with money interested in retirement finances and then you have those just squeaking by who want to discuss their cats
when I moved into this place about 8 yrs ago, I told myself 10 yrs here then I'd re-evaluate my situation-health, finances, changes in the area I'm in, just every thing.
But I told myself no more debt. If/when I moved it'd have to be an equal move.
Now after reading all, ok most, of these responses, I've changed my mind. An affordable mortgage is an option.
Not preferred but not a total plague either.
One thing engraved in stone: no more fixer uppers. Next one, if there is a next one, will be move in ready.
If that is the end date of her current lease, the notice likely means the landlord needs the house for himself/herself, or needs to sell the house. If it is in the middle of her ongoing lease, that means she violated some term of the lease (most commonly the rent payment). Renting a place for any amount of time does not convey any permanent right to remain there.
Oh I agree with you completely. My point was simply that being a renter entails its own headaches. While you don't worry about paying the immediate bill to fix a leaky roof or replace a water heater, being a renter entails other risks and uncertainties. Many of us have been both; personally, I prefer to own.
There is the old saying, "there's his story, her story, and the truth."
The woman's resolution was to move into an independent living facility in another state to be with her sister. She says the home was sold to an investor, but there was no real estate sign, no realtor tour, nothing.
LOL, that description hits the nail on the head. One omission: Unless it is a nonsmoking casino, the addicts also keep a ciggie parked a-dangle from their mouths so both hands are free for the gambling apparatus.
Yep. I forgot to mention that. I always find it amazing when I see someone in a scooter with an oxygen tank & nose-piece to deliver oxygen, and they are smoking a cigarette at the same time.
Sure is a big difference in attitudes, opinions and laws from place to place.
We have everything paid for - Home + 2 rentals and cars, etc. So we're debt free. We like it like that. Our tenants have no lease and typically will stay for many years. I gave them a book of deposit slips and they make their own deposits into our account. I don't really care what day of the month they pay.
If I become infirm or alone I may sell the home and move into one of the condos, or I may sell everything and move into assisted living - just depends on circumstances.
"Live well within our means" has been our mantra for many years. But to us, that has 2 meanings:
1) First it means live significantly below what we could really afford. Live well below.
2) And secondly it means maintain a high quality of life - live well. Literally.
Things that make me feel clever:
Our debt free life.
Driving older cars maintained to perfection and kept for many years - an '08 and a '90.
Eating well - 90% of our meals are taken at home.
Working out 3X a week and almost never missing a workout.
Not having to travel to entertain myself.
Conversing with fellow Geeks. Last night the conversation among us Geeks was *the exact placement of James Webb telescope; * the origin of 31st parallel as the original southern border of United States; * benefits of cardio bypass surgery; *what exactly could have happened to Travis Webb, who evidently was captured by aliens and then released;*how one of our group had "hopped up" his diesel truck; *the coming population decline and the mathematical formula for calculating exponential decay. It was a wonderful evening. ..... OK, my wife was bored speechless, but you should see me when she and her group start talking about their grandkids.
Sounds like a life well lived. I think I'd find myself at home with your group conversations. Especially if the topic ever rolled around to the merits of 100 square kilometers of semi-opaque "space parasols" stationed at the Sun-Earth L1 Lagrangian point so as to reduce global warming without the harmful economic effects reducing the use of oil and natural gas.
You are all way, way off the OP’s question, but that’s OK. Having read all of Brightdoglover’s posts within this thread, however, I would like to emphasize one poster’s comment that you did not really pay off your credit card debt but refinanced your debt with a mortgage refinance with a cash pay out. That was likely a good idea, because you dropped the interest rate, but the debt is still there and you will carry it now for decades. Given that you do not have a portfolio and live of SS and pension checks, I think the real issue here is that you have to control whatever spending habits you may have built up during long years of working and being able to work more to pay things off. We all have to do the same thing, no shame in it, but it really is important to shift your thinking about spending at this point. It was great that you were able to transfer the debt this time, but you may have run out of similar options if there is a next time. You seem happy and contented in your new home with your senior dogs, so I am confident you can handle this!
Thank you for your cogent summation. I do feel confident that my spending habits are no more! I can always cut back on my donations if need be be would rather not. I am looking forward to managing things in a more productive way.
OK, my wife was bored speechless, but you should see me when she and her group start talking about their grandkids.
This reminds me of one of my lunch groups at work. A gal used to be a nurse and majority of group was over 50. So the lunch time conversation topics focused on everything that could go wrong in human body and every kind of disease possible to humans
I didn't stay with the group for very long.
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..... OK, my wife was bored speechless, but you should see me when she and her group start talking about their grandkids.
Especially if the topic ever rolled around to the merits of 100 square kilometers of semi-opaque "space parasols" stationed at the Sun-Earth L1 Lagrangian point so as to reduce global warming without the harmful economic effects reducing the use of oil and natural gas.
