[Mishpacha House]

Believe or not….there is “never” the best time to buy. Too many factors are involved and most are out of your control and can’t be predicted with any certainty.

If you can afford to buy a property, buy it. All financial ‘catches’ must be included in the thought process. However, ‘fear’ must never be a factor.

work it thru’ logically. Do the math. Include your future plans in the equation. (jobs, hobbies, college, debt, etc.)

Yes, you mortgage will never go up …ever. and you do get to deduct interest which is a big and huge bonus for the first 5,7,10 years.

As a for instance (w/o divulging income) we get WAY more back in income taxes than we put into annual insurance and property taxes.
We’ve been walking that tight rope for several years now and see it continuing for at least a few more.
It adds up.

by the time we lose our tax advantage (as is) we gain in the rent payments that we haven’t had to pay vs steady mortgage payments we do pay…for ever.

[Mishpacha House]

While there are stipulations, simply deciding one doesn’t want a loan may or may not warrant a refund…language is important.

It is left up to the lender. The OP will have to confer with his bank. Good luck!

[Mishpacha House]

[quote=HLS]I’m not sure that it’s legal to be charged a non-refundable application fee for a loan.
Their only actual expense was the cost of a credit report and I think that is all they can legally charge you.[/quote]

sure it is legal. $ paid to process the loan app regardless of whether it goes thru’ or not.

[Mishpacha House]

Yes, we were fortunate (and were planned ready) to take advantage of the market at the end of 2011.

We stepped into a short sale and waited out the bullying by the bank(s) as the market kept slipping more and more into our favor. And as you say, the interest rates were at historic lows.

We were ready to buy in the early 2000’s, but an adviser counseled us to wait. We did. And the market started up and further up and eventually priced us out.

In hindsight, we would have made the same financial mistakes so many others made by buying beyond our means. A very smart and dear friend saved us from ourselves.

Now, my wife works 3 days a week and I run a non-profit in a house that is one of, if not THE largest home in our neighborhood. Canyon/mountain views on an 8ooosqft level lot.

Not only are we benefiting, but so are 5 of our friends that stay in the house with us. (we in the granny flat-they in the main house)

Our very low mortgage is paid for by our ‘guests’ with very low (under market) rent. So it is a win-win for everyone here.

And if/when we get tired of having ppl on our property, we can either send them on their way or move out ourselves. raise the rent to match the market and have them pay for our ‘more private’ living expenses (house or condo).

The market seems to go in cycles. With each having separate factors that play into them making them unique.

Not all home owners are rejoicing, and not all renters are cursing.

[Mishpacha House]

I turned the sound down to avoid any extraneous commentary and to try to surmise what was going on.

Without the benefit of sound, it looked as tho’ cops were trying to cuff the guy. Whenever a cop got close enough to put a hand on him he would kick them back.

(I assumed) One officer was using his baton on the guy’s leg(s) just for that reason.

I play it back with sound and come to much the same conclusion.

Most of this is assumption based on observation.
We don’t know how or why the guy was in the street. For all we know he robbed a little old lady and ran over a kid trying to get away.

The cops were telling him (repeatedly) to roll onto his stomach…he refused.
The guy was obviously being obstinate.

“roll onto your stomach”

not hard to avoid a lot of what was going on there.
Do what the cop tells you to do and you won’t get tazed. Don’t try to kick the cop when he tries to roll you over to cuff you and won’t get a baton on your leg.

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