[CMcG]

How does ANYONE not have help from others in this market? Especially for a first-time buyer? I understand that real estate in San Diego is on the decline. I’m just trying to point out that people are still buying, despite all the doom and gloom on this board. I am especially pissed that you think I am relying on others. That’s true as far as this house is concerned. But who do you think is paying for the kid’s med school, car, etc? Don’t scare people off this board. If there’s not a give and take, it will become very boring and die.

[CMcG]

I am not new here, though I keep having problems logging in, so I had to create a new account. Some of you may remember my story: I bought my house in February from a relative who gave me $100K in equity so that I had a 20 percent down payment and don’t have to pay mortgage insurance. I have a 30/yr fixed rate at 6.25, but the first 10 years are interest only. That’s all I can afford right now, but I expect a substantial inheritance within those 10 years. I am 50; I’m 15 years away from retirement. I love this house and will die in this house. I’m only suggesting, as some of you have, that every situation is different. I have been constantly reminded by a colleague, “Don’t put faith in an inheritance.” I’m not. Plan B is that my kid in med school will take over the payments in 2017, that he’ll move in with his future wife, and I will be assured of having a place to live.

[CMcG]

I am not new here, though I keep having problems logging in, so I had to create a new account. Some of you may remember my story: I bought my house in February from a relative who gave me $100K in equity so that I had a 20 percent down payment and don’t have to pay mortgage insurance. I have a 30/yr fixed rate at 6.25, but the first 10 years are interest only. That’s all I can afford right now, but I expect a substantial inheritance within those 10 years. I am 50; I’m 15 years away from retirement. I love this house and will die in this house. I’m only suggesting, as some of you have, that every situation is different. I have been constantly reminded by a colleague, “Don’t put faith in an inheritance.” I’m not. Plan B is that my kid in med school will take over the payments in 2017, that he’ll move in with his future wife, and I will be assured of having a place to live.

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