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re: Nearly a Million Americans Fear Losing Their Home to Foreclosure in the next two months
Posted on 10/20/22 at 8:53 am to GetCocky11
Posted on 10/20/22 at 8:53 am to GetCocky11
quote:
Don't buy houses you can't afford just because rates were low.
Right?
We could’ve gotten a much more expensive home with what the bank was willing to give us. But we planned to live in our home for a decade or so and having both seen multiple recessions knew we needed to make sure we had some breathing room on our mortgage payment in case we saw another. Things have gotten a little tighter but we have plenty of things we could cut out before we’d even think about not making a mortgage payment.
I know several folks who went big and maxed out what was offered and are now struggling because they didn’t account for that.
1
Posted on 10/20/22 at 8:55 am to BluegrassBelle
quote:
We could’ve gotten a much more expensive home with what the bank was willing to give us.
See it all the time. The same mindset pops up on this board all the time when discussing housing as well. How they need the giant house, that 2,500 sq ft house with the bonus room and 2 car garage just isn't cutting it for their family of 4
Builders know this too, so all the new subdivisions contain these giant homes now that cost a fricking shitton.
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