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Originally Posted by ytsirk27 were two months behind. no, this wont happen again next month. thats why im going to try to pay a month in advance if i can to provide myself with a barrier. this has been a bad year but everything will be all and well for 2007. We have already discussed our finances and everything will be better. We are going to do some thing s differently. Rent around here for a 2 bedroom is 400.00 so renting would be stupid. my house payment is only 435.00 but my insurance and tax payment brings it up to 642.00 its 1130.00 not 1500.00 now. Thanks for your prayers. |
actually, if cost of renting is $400/month and cost of owning is $642/month (insurance and property taxes counts as a monthly cost of ownership!) plus maintenance (owning means you're in charge of maintenance so when water pipes breaks, roof leaks, circuit breaker craps out, water heater dies, etc etc, you have to have money set aside to pay for the supplies even if you do the labor yourself.) renting means your landlord is financially responsible for all that maintence stuff and you don't have to worry about insurance and property taxes. so renting may not be that stupid if it can reduce your monthly cost of shelter by at least 1/3.
but so long as you and your hubby's worked out on paper a realistic financial plan for the next year, then you'll be well underway to financial recovery. work on your credit and get a real home loan! then you'll have other options when you get into a financial bind! good luck!