by Carolyn Osborne
(Columbus, OH USA)
Here's why this reader is staying put and NOT buying a house right now. See if you relate to her experience... I live in an old house, in a transitional neighborhood. My house needs major work in the kitchen and bathroom and the basement's not looking too good, either.
So, selling in a bad real estate market is a challenge for a house in good shape in a great neighborhood, but probably close to impossible for me. Also, I bought the house cheap and have been slowly working on it.
I have been paying on the mortgage for eight years (I refinanced once), so I have a lot of untouched equity in the house. I think that is a good thing to have in the current climate. Further, when I refinanced last time, my payments became less than $300.
I couldn't rent a place for that cheap. Even if I end up having job problems because of the economy, I believe I can find $300 a month to stay out of foreclosure.
Finally, in spite of all its problems, I love this house. It was built in the 1920's and it has unpainted woodwork and two stained glass windows. It's only five miles from where I work and I can walk to a grocery store and a pharmacy. When I was on jury duty, I walked to the courthouse.


Buying A House-Realtor | Buying a House-Lender
Inspector | Appraiser | Title | Insurance | Escrow
Home Buying Scorecard
Get-Your-Best-Mortgage-Rate.com is getting a facelift!
Please bear with me! The content is identical so continue to browse. I'm working as fast as I can to finish up!
I'm grinning. Hope you're enjoying the new look too!
Your friend,Lock Answers by Kate - Learn the nitty gritty inside story of locking your mortgage rate.
Refinance Answers by Kate - Refinancing brings out opinions, for sure! Get the facts here.
Answers by Kate For Seniors - Reverse Mortgage, the unique income answer for retirees.
Home Buying Answers by Kate - Learn how to buy a house. Unusual facts to aid your home buying experience.
Credit Answers by Kate - Improving credit could change your life. Find how to get more than temporary results.
FHA and VA Answers by Kate - Clear the fog. The low down on VA and FHA loan requirements.
PMI Answers by Kate - Private mortgage insurance, friend or foe? Do you know how to get rid of it?
ARM Answers by Kate - Do you have an adjustable rate home mortgage? You can ask Kate for help.
Loan Modification Answers by Kate - Unique help for modifying your mortgage. Make sure you don't miss this.
Website Answers by Kate - Yes... Readers even ask Kate how to build a website.