Tuesday, April 26, 2005
I know it looks like I skipped a day. I see the date, but keep in mind I’ve not slept yet. To me it is the same day. I am under a bit of stress. Work is well, work. Then there is this property thing I’ve been thrust into. Not to mention that all the stress has not helped me ditch the cough, and I have been neglecting my relationship. So yeah, I am a bit flighty right now. In fact, to clean out my email, I have deleted comments without responding. I feel horribly about that. But what can you do? We are bound by the laws of nature. What more can one expect?
So I am still coughing a bit. It has lasted a loooong time. Clearly it was viral, not bacterial or the antibiotics would have worked, right? In the meantime those pills are messing me up!
Looking at the bright side, the past few days have been educational. Like, for instance… property tax. I had no idea. I thought that there was the mortgage, the income taxes we all get. Period. I had no idea that there was a separate tax! And that it could be so much! So even if you do get a reasonable mortgage payment there is still this other sum of money you have to come up with, raising the payment or separately. Yes, I realize that makes me a little dense but if I didn’t know there must be others. Speaking of the property thing, we found one that works location/value/space-wise. Now it’s a matter of affordability or something. Ugh.
I hate to tell you this, but unless you do 20% down, there’s also this thing called Private Mortgage Insurance, which basically buys a policy saying that if you default on your mortgage, someone else will buy the mortgage from the bank and turn the hounds loose after you.
It’s depressing, Daniel. I’m sorry. But the joys of home-ownership are plentiful. Don’t let the rest get you down.
Posted by scorpy on 04/26 at 09:55 AMthere are so many things that just pop up that you never knew when buying/owning property. it is an eye opening experience, but worth it knowing it’s yours and you can do with it what you please.
here’s something else you may not be aware of the cost of…insurance.
in FL we have three kinds and i am sure there might be more where you live. i live a mile from the gulf of mexico so in addition to my homeowners and windstorm insurance i have to carry flood insurance that costs more per year than the other two combined.
i should have been in the insurance business. i would be rich by now.
at any rate…good luck with it all. it will all work out and you will be happy!Posted by antisocialite on 04/26 at 12:15 PMOooo brother, I feel your pain!!!!
A couple weeks ago, I got a notice that my building was going Condo. Lucky for me, my best friend is transition careers from IT to Mortgages, and he just past his Real Estate Liscence exam. He’s been a huge Help!!! Helping me get my finances in order, and doing the Pre-approval dance. You can see is site at http://www.tgoss.com , he does both residential and commercial mortgages in San Diego.
Now, as far as the property tax issue goes; Make sure your mortgage payments put a portion into an Equity Account, that is set up to pay your Property Tax. That way you don’t get sucker punched twice a year with the outrageous Property Tax bill.
We really do need to get together and compare notes! Are you boys working it this weeknd?
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