AZ BS Thread 2.0

If I told you that you had a hot body would you hold it against me?

 

Yes.....yes I would

 

Yeah, go talk to a couple mortgage folks that your realtor recommends. Both my purchases, they have been surprised when I came forward with 20%. They will have options. But PMI is apart of sub 20%. Good luck and chill out!

 

Thanks ryan. Yeah whats the worst that happens. They say no and I countinue to save?! Could be worse

 

The fact that you're even concerned about it puts you ahead of a lot of the people buying up houses. As others said, regardless of how much of a down payment you come up with, have a spare $10k or whatever to pay all the costs that will come up in the first year.

People tend to see that the mortgage payment is half what rent would be and assume that landlords are just making a 50% profit, but rent is actually fairly close to cost of ownership...

 

Yeah thats where allot of these people fail. Andend up fucking it up for the rest of us. Then they get pissed when the house gets foreclose
On cause they didnt plan ahead. Oh well we shall see what happens

 

How is a third party dap subrime lending. Less risk for lenders, donated money lost doesnt hurt me or require fed bailout. No insurance and reinsurance or derivatives to worry about.

42k, where'd that number come from?

6 mo expenses in savings is a given before you think of buying anything. Cant afford to save 5k with a rent payment, what do you do when your new houses ac system craps amd must be replaced? Got a 2nd gen tacoma with a 300 payment, maybe you shoulda bought a firstgen.

 

42 k came from 20% of 210,000.

 

It can be a heated topic of debate. I'll answer questions by pm if you want to get into it in depth. Mortgage, business finance, investments, banking, all of the above...

 

It's lending to people who otherwise couldn't afford the loan. It's not literally subprime lending, which is why I used the word essentially. Also, I didn't mean to imply that no one should ever take any kind of down payment option at less than 20%, but rather if you can't afford the 20%, there's a decent chance that you can't afford the house.

 

Thanks nick after my calls tomorrow I might have some questions.

And its not the question of affording the 20% down. Its being able to have /save 20% its just a high number in my mind. Unrealistic I guess I would say. For some its not hard I get that. But fit the majority of first time home buyers I dont see it being easy to reach 20% without saving for 5 years or so while making rent payments and truck payments bills kids life that happens. Its just weird to me. But you guys have gave mesome ideas today which has helped me allot!

 

My question (feel free to ignore it if you'd like, I don't want to start an argument, just curious about this viewpoint that I hear all the time) is why do people feel entitled to have a house without saving for 5 years? I don't feel that's unreasonable at all to expect people to save up for a few years to buy a house. Just seems like wanting instant gratification to me.

 

No not at all. I think its good to save up for years to get what you want. If you go back a couple pages I stated that there are some different people I know that have seem to got around these 20% rules etc because they are on government assistance or what not. So someone like myselfv and wife who support ourselves. I was wondering if there is just something I dont know. I hate how entitled people are. Im just trying to figure out if I have saved enough cause im feeling like I have not. And compared to sitting around saving some money and still blowing another 20 k renting the next 2 years and helping somebody else pay there mortgage I would rather put it into my own currently. But im just going to buckle down andccontinue to save

 

Yeah I saw the context, and I think you're asking the right questions. It was some of the replies to you that just made me shake my head. I can definitely see it being frustrating to rent while people are getting into houses for next to nothing. I think it's good to keep in mind that while they're getting good deals, they are also more likely (from the lender's point of view) to fuck that opportunity up and end up in deeper financial trouble later on. Good luck with the saving! I'm sure it'll be worth it.

 

Yeah. It is frustrating to say the least. But oh well what can I do. Im not a free loader and believe working for what you have. Thanks for chatting with me.

 

F-ing Glendale counsel voted to cancel the agreement with IceARizona (aka the Coyotes). The lawyers are going to get a major payday out of this one. I say we move the Coyotes back to AWA arena. Central Phx was always a better location for them.

 

Glendale is starting to realize that putting a bunch of arenas in the middle of nowhere doesn't actually bring their town any income.

 

The other day I talked to a 36 year old with nearly 2 million, earned, not enherited, didnt start a tech co. I have friends with less than 500 week to week, and friends with 500k saved, 500k house, couple kids etc..... all same age as me. Education is number 1. Partnering with the right person is 2. Working together with discipline towards a long term vision and goal is 3. So, sometimes I feel like shit for not being a millionaire, and other times I get reminded I'm doing better than most, just not all.

Andrew, you will own a home... nobody else matters. Do whatever it takes to get it. But energy focused on what others have and how they got it, takes away focus on your longterm vision and goal.

 

I just want a small place, lots of toys and a job at least don't hate lol

 

I would go see the Coyotes if they were in downtown Phoenix. I hate driving an hour each way just to watch them. Never been to see a football game to watch the Seahawks because of the same reason. Unfortunately the taxpayers are out on this one. This is the exact reason why taxpayers should not foot the bill for sports teams statiums. The taxpayers pay for their stadiums and then have to pay outrageous prices for tickets food and parking. If you get an all star game, super bowl, NBA finals, or hockey finals, then only the rich can make it to the games because the ticket prices skyrocket in price.

End of rant