So we know we screwed up…

[paramount]

I always find it interesting how so many people – particularly in So Cal I suppose – connect or equate living or doing things ‘right’ with money.

Maybe you need to try harder in marketing your rental unit? Did the rental market actually crash or is that your opinion?

Also, does the $1000 carrying cost include condo/HOA fees?

You sold your previous house based on reading a web site? Wow. Were shrewd and motivated enough to make 80k even though I’m sure it was disruptive to your family? I think it’s safe to assume you are primarily motivated by money/$$, but the conundrum is your also a slave to the credit reporting system and you probably judge others on that basis as well.

Will all of that being said, I would still consider trying harder marketing the condo or even offer incentives with short term leases.

I’m sure the rental market – assuming it has crashed – will come back at some point.

Also, you might want to factor in that the MonaVie market may dry up at some point.

[trying2balance]

paramount, I am motivated very much by money… not bc I like to buy ipods or cars or jewelry or anything like that but bc I see it as giving us the piece of mind to be able to sleep at night knowing we can survive a tragedy and also bc I know how hard it is to make $1 given the long hours I work at night while my kids are asleep to bring in money (I work in marketing for a tech company – helping to close sales which gets harder and harder every day).

I felt like an idiot last week posting flyers all over the ASU condo in 110 heat after we took the 7 hr drive out here, so I don’t know how much harder we can try and it seems ridiculous to lower the rent to a point where we are just postponing the inevitable… yes $1000 is mortgage, hoa, utilities, insurance, taxes

I don’t know what MonaVie is…?? And I don’t judge other people by their FICO scores, I judge them by what they give to others in terms of their time, friendship and care. And how they make you laugh too – of course – to forget the type of dilemma that hubby and I face now. thanks 🙂

[trying2balance]

paramount, I am motivated very much by money… not bc I like to buy ipods or cars or jewelry or anything like that but bc I see it as giving us the piece of mind to be able to sleep at night knowing we can survive a tragedy and also bc I know how hard it is to make $1 given the long hours I work at night while my kids are asleep to bring in money (I work in marketing for a tech company – helping to close sales which gets harder and harder every day).

I felt like an idiot last week posting flyers all over the ASU condo in 110 heat after we took the 7 hr drive out here, so I don’t know how much harder we can try and it seems ridiculous to lower the rent to a point where we are just postponing the inevitable… yes $1000 is mortgage, hoa, utilities, insurance, taxes

I don’t know what MonaVie is…?? And I don’t judge other people by their FICO scores, I judge them by what they give to others in terms of their time, friendship and care. And how they make you laugh too – of course – to forget the type of dilemma that hubby and I face now. thanks 🙂

[trying2balance]

paramount, I am motivated very much by money… not bc I like to buy ipods or cars or jewelry or anything like that but bc I see it as giving us the piece of mind to be able to sleep at night knowing we can survive a tragedy and also bc I know how hard it is to make $1 given the long hours I work at night while my kids are asleep to bring in money (I work in marketing for a tech company – helping to close sales which gets harder and harder every day).

I felt like an idiot last week posting flyers all over the ASU condo in 110 heat after we took the 7 hr drive out here, so I don’t know how much harder we can try and it seems ridiculous to lower the rent to a point where we are just postponing the inevitable… yes $1000 is mortgage, hoa, utilities, insurance, taxes

I don’t know what MonaVie is…?? And I don’t judge other people by their FICO scores, I judge them by what they give to others in terms of their time, friendship and care. And how they make you laugh too – of course – to forget the type of dilemma that hubby and I face now. thanks 🙂

[trying2balance]

paramount, I am motivated very much by money… not bc I like to buy ipods or cars or jewelry or anything like that but bc I see it as giving us the piece of mind to be able to sleep at night knowing we can survive a tragedy and also bc I know how hard it is to make $1 given the long hours I work at night while my kids are asleep to bring in money (I work in marketing for a tech company – helping to close sales which gets harder and harder every day).

I felt like an idiot last week posting flyers all over the ASU condo in 110 heat after we took the 7 hr drive out here, so I don’t know how much harder we can try and it seems ridiculous to lower the rent to a point where we are just postponing the inevitable… yes $1000 is mortgage, hoa, utilities, insurance, taxes

I don’t know what MonaVie is…?? And I don’t judge other people by their FICO scores, I judge them by what they give to others in terms of their time, friendship and care. And how they make you laugh too – of course – to forget the type of dilemma that hubby and I face now. thanks 🙂

[trying2balance]

paramount, I am motivated very much by money… not bc I like to buy ipods or cars or jewelry or anything like that but bc I see it as giving us the piece of mind to be able to sleep at night knowing we can survive a tragedy and also bc I know how hard it is to make $1 given the long hours I work at night while my kids are asleep to bring in money (I work in marketing for a tech company – helping to close sales which gets harder and harder every day).

I felt like an idiot last week posting flyers all over the ASU condo in 110 heat after we took the 7 hr drive out here, so I don’t know how much harder we can try and it seems ridiculous to lower the rent to a point where we are just postponing the inevitable… yes $1000 is mortgage, hoa, utilities, insurance, taxes

I don’t know what MonaVie is…?? And I don’t judge other people by their FICO scores, I judge them by what they give to others in terms of their time, friendship and care. And how they make you laugh too – of course – to forget the type of dilemma that hubby and I face now. thanks 🙂

[paramount]

Ok, so your motivated by $$ and fear…and also it sounds like your part time job is not really part time at all. You just work from home, am I correct?

On top of that, it sounds like you don’t want the associated work and headaches associated with a rental unit. To me, that just sounds like laziness.

Perhaps for you and your husband this is what O refers to as a teachable moment?

[paramount]

Ok, so your motivated by $$ and fear…and also it sounds like your part time job is not really part time at all. You just work from home, am I correct?

On top of that, it sounds like you don’t want the associated work and headaches associated with a rental unit. To me, that just sounds like laziness.

Perhaps for you and your husband this is what O refers to as a teachable moment?

[paramount]

Ok, so your motivated by $$ and fear…and also it sounds like your part time job is not really part time at all. You just work from home, am I correct?

On top of that, it sounds like you don’t want the associated work and headaches associated with a rental unit. To me, that just sounds like laziness.

Perhaps for you and your husband this is what O refers to as a teachable moment?

[paramount]

Ok, so your motivated by $$ and fear…and also it sounds like your part time job is not really part time at all. You just work from home, am I correct?

On top of that, it sounds like you don’t want the associated work and headaches associated with a rental unit. To me, that just sounds like laziness.

Perhaps for you and your husband this is what O refers to as a teachable moment?

[paramount]

Ok, so your motivated by $$ and fear…and also it sounds like your part time job is not really part time at all. You just work from home, am I correct?

On top of that, it sounds like you don’t want the associated work and headaches associated with a rental unit. To me, that just sounds like laziness.

Perhaps for you and your husband this is what O refers to as a teachable moment?

[HLS]

TRY..
I’m a mortgage consultant and may be able to help.

Are both spouses on the condo loan ?
It doesn’t sound like both of your incomes were needed to qualify and you should NOT have both been on that loan. Credit profiles of spouses are separate, unless you have joint debt.
Spouses can still be on title/deed to a property without being on the loan. This is routinely done for various reasons. Consult an attorney for legal advice.

A foreclosure could whack your credit scores 100 to 200 points, and disqualify you for financing regardless of down payment for a few years.

Your broker committed fraud and you were complicit in buying a rental property as a 2nd home.
You can get the same rate as an owner occupied home by paying a pricing hit, and then you’re not committing fraud. That’s 4.875% today.

MOST people get irresponsible mortgage advice from friends, neighbors and Realtor referrals and end up paying too much for the wrong loan, especially when it’s free.

You can DEFINITELY rebuild a credit score, however,you will probably never recover the money that you are losing monthly to “protect” your credit score.

Another option is to try and find a qualified buyer who cannot qualify for a new loan, and give them an option to buy the condo from you for $1000 a month payment or $800 or $900 or whatever you are willing to cover. Many ppl have plenty of income but cannot qualify by today’a guidelines.
A bit of risk, but could help your situation.

When people shop for a mortgage, they truly don’t understand what they are actually shopping for.

Feel free to contact me privately for honest advice.,,, HLS

PS: I hardly ever recommmend that anybody buy a condo for rental purposes anywhere, and per your #2, things ARE turning around. They have turned to the direction of reality and will continue for some time, esp in AZ. My guess is that condo will never be worth $140K in today’s dollars. (Inflated dollars, maybe) I laugh everytime the experts talk about things turning around… they don’t want to admit that the turn around has occured because they don’t like the direction it’s headed.

[HLS]

TRY..
I’m a mortgage consultant and may be able to help.

Are both spouses on the condo loan ?
It doesn’t sound like both of your incomes were needed to qualify and you should NOT have both been on that loan. Credit profiles of spouses are separate, unless you have joint debt.
Spouses can still be on title/deed to a property without being on the loan. This is routinely done for various reasons. Consult an attorney for legal advice.

A foreclosure could whack your credit scores 100 to 200 points, and disqualify you for financing regardless of down payment for a few years.

Your broker committed fraud and you were complicit in buying a rental property as a 2nd home.
You can get the same rate as an owner occupied home by paying a pricing hit, and then you’re not committing fraud. That’s 4.875% today.

MOST people get irresponsible mortgage advice from friends, neighbors and Realtor referrals and end up paying too much for the wrong loan, especially when it’s free.

You can DEFINITELY rebuild a credit score, however,you will probably never recover the money that you are losing monthly to “protect” your credit score.

Another option is to try and find a qualified buyer who cannot qualify for a new loan, and give them an option to buy the condo from you for $1000 a month payment or $800 or $900 or whatever you are willing to cover. Many ppl have plenty of income but cannot qualify by today’a guidelines.
A bit of risk, but could help your situation.

When people shop for a mortgage, they truly don’t understand what they are actually shopping for.

Feel free to contact me privately for honest advice.,,, HLS

PS: I hardly ever recommmend that anybody buy a condo for rental purposes anywhere, and per your #2, things ARE turning around. They have turned to the direction of reality and will continue for some time, esp in AZ. My guess is that condo will never be worth $140K in today’s dollars. (Inflated dollars, maybe) I laugh everytime the experts talk about things turning around… they don’t want to admit that the turn around has occured because they don’t like the direction it’s headed.

[HLS]

TRY..
I’m a mortgage consultant and may be able to help.

Are both spouses on the condo loan ?
It doesn’t sound like both of your incomes were needed to qualify and you should NOT have both been on that loan. Credit profiles of spouses are separate, unless you have joint debt.
Spouses can still be on title/deed to a property without being on the loan. This is routinely done for various reasons. Consult an attorney for legal advice.

A foreclosure could whack your credit scores 100 to 200 points, and disqualify you for financing regardless of down payment for a few years.

Your broker committed fraud and you were complicit in buying a rental property as a 2nd home.
You can get the same rate as an owner occupied home by paying a pricing hit, and then you’re not committing fraud. That’s 4.875% today.

MOST people get irresponsible mortgage advice from friends, neighbors and Realtor referrals and end up paying too much for the wrong loan, especially when it’s free.

You can DEFINITELY rebuild a credit score, however,you will probably never recover the money that you are losing monthly to “protect” your credit score.

Another option is to try and find a qualified buyer who cannot qualify for a new loan, and give them an option to buy the condo from you for $1000 a month payment or $800 or $900 or whatever you are willing to cover. Many ppl have plenty of income but cannot qualify by today’a guidelines.
A bit of risk, but could help your situation.

When people shop for a mortgage, they truly don’t understand what they are actually shopping for.

Feel free to contact me privately for honest advice.,,, HLS

PS: I hardly ever recommmend that anybody buy a condo for rental purposes anywhere, and per your #2, things ARE turning around. They have turned to the direction of reality and will continue for some time, esp in AZ. My guess is that condo will never be worth $140K in today’s dollars. (Inflated dollars, maybe) I laugh everytime the experts talk about things turning around… they don’t want to admit that the turn around has occured because they don’t like the direction it’s headed.

[HLS]

TRY..
I’m a mortgage consultant and may be able to help.

Are both spouses on the condo loan ?
It doesn’t sound like both of your incomes were needed to qualify and you should NOT have both been on that loan. Credit profiles of spouses are separate, unless you have joint debt.
Spouses can still be on title/deed to a property without being on the loan. This is routinely done for various reasons. Consult an attorney for legal advice.

A foreclosure could whack your credit scores 100 to 200 points, and disqualify you for financing regardless of down payment for a few years.

Your broker committed fraud and you were complicit in buying a rental property as a 2nd home.
You can get the same rate as an owner occupied home by paying a pricing hit, and then you’re not committing fraud. That’s 4.875% today.

MOST people get irresponsible mortgage advice from friends, neighbors and Realtor referrals and end up paying too much for the wrong loan, especially when it’s free.

You can DEFINITELY rebuild a credit score, however,you will probably never recover the money that you are losing monthly to “protect” your credit score.

Another option is to try and find a qualified buyer who cannot qualify for a new loan, and give them an option to buy the condo from you for $1000 a month payment or $800 or $900 or whatever you are willing to cover. Many ppl have plenty of income but cannot qualify by today’a guidelines.
A bit of risk, but could help your situation.

When people shop for a mortgage, they truly don’t understand what they are actually shopping for.

Feel free to contact me privately for honest advice.,,, HLS

PS: I hardly ever recommmend that anybody buy a condo for rental purposes anywhere, and per your #2, things ARE turning around. They have turned to the direction of reality and will continue for some time, esp in AZ. My guess is that condo will never be worth $140K in today’s dollars. (Inflated dollars, maybe) I laugh everytime the experts talk about things turning around… they don’t want to admit that the turn around has occured because they don’t like the direction it’s headed.

[Author]

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