[quote=Bristol Chicken][quote=UCGal]Not to nitpick – but your downpayment is only 4% of your proposed purchase price… that’s in the same ballpark as FHA’s low down programs…
Personally, I’d keep renting, working on your credit rating and saving your pennies to increase your down. I know I sound judgemental but with such a small down and admissions of poor credit rating, I don’t think you’re ready to buy.[/quote]
Ready to buy? Please do not discourage these people. We need all the help we can get. Must keep the credit / real estate ponzi moving towards the peak of the triangle. If the peak is not supported the sides will collapse. If the sides collapse the base will be covered in rubble. If the base is covered in rubble we can’t have growth. Who will clear all the rubble? Our childrens children? The democrats? The republicans? Of course not. Only Ronald Regan could solve this problem and he’s dead. (Chuck Norris could fix it but doesn’t have the time).
Unbridled speculation, greed, no morals, no stigma now for bad decisions. Bankruptcy, foreclosure are taught and accepted as financial planning. Entitlement society, something for nothing with the uncle to back you up if things go wrong. This is our housing market. Accept it and support it.
Yes, these people are ready to buy. And we are collectively ready to sell to them. (besides I may want to buy their house with cash at 20-30% off in a couple of years when vacant)[/quote]
