Thanks, Sweetie. No worries, I’m a woman! What really shocked me was that I stupidly signed up on a mortgage locator site that promised me that I would not get more than four lenders calling me. Twenty-nine did. My boss (who has made a fortune in So Cal real estate) looked at a bunch of “Good Faith” estimates and was sometimes so pissed off that he threw them at me. Neg-am etc. Finally went with his mortgage broker who was strict as hell.
With the taxes and interest deductions, I’m paying about $100 more for my mortgage than I’m paying in rent (moving in April 1st). I know most of you guys are bearish and this year is gonna be hell for me (read: top ramen) for sure. I just want to hear about how others got into this hellish market in the last month or so.
Again, thanks. I locked at 6.25 percent in January. Kind of high, but, though I have a 30-year fixed, I have interest only for 10 years. That’s because I will most likely inherit money and be able to put more to the principle (or is it principal?–I always forget!). Moving in April 1st. Middle-aged, plan to live there for the rest of my life. Quaint, older neighborhood with views to the ocean on a Santa Ana day and it’s 12-15 miles to the ocean. You, and this blog, have been a big help.
Thanks. I am still scared, though. Wake up several times a night, just like I did when I bought my first house for $102K. Sold it for $150K after nine years (divorce). My house is in a great neighborhood but people are still setting their prices too high. Why are they asking for twice what they paid in 2001? I can only think, home equity loan(s). This is gonna be a very hard year for me, but I figure with the taxes/interest, I will only be paying $100 more than I pay in rent.
