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would take the first house you can get or be picky?

im thoroughly frustrated with my sis and law. they got a 30 day eviction cause the land lord died and the attorney is selling the place...not sure of the total situation with that, well my sis in law thinks she is going to get approved for a loan with in a couple of weeks...they got the notice at the beginning of the month and has to be out sometime in the beginning of next month. neither her or my brother has a good work history and they are in hella debt with collections and rental companies( they financed electronics and furniture) they just applied for usda loan and in my state they are behind cause so many ppl applied and they only have so many ppl going through aps. we applied and it took them 3 months to turn us down and we only have 3k in medical bills that we paying off. we were told by usda we had to have ZERO debt,and my sis in law thinks they are going to get approved within days after they applied,CONTIN

 
Anonymous

Asked by Anonymous at 12:03 PM on Mar. 22, 2010 in Just for Fun

This question is closed.
Answers (10)
  • Even IF by some miracle they got approved for a loan it still takes at least 30 days to close on the loan. Where does she intend to sleep in the meantime?
    baconbits

    Answer by baconbits at 2:25 PM on Mar. 22, 2010

  • i suggested some rental properties for them to check out being she is constantly bitching and worried about being homeless and these were/are really nice places but she is hell bent on buying a house. wouldnt it be smart to just find a rental place and seeing about gettin a shorter lease then worry about buying a house?

    Anonymous

    Answer by Anonymous at 12:06 PM on Mar. 22, 2010

  • If they are in lots of debt it would be way better for them to find a nice, but cheap, rental for now. Buying isn't the way to go and they probably won't get an approval anyway, if they do the interest rate and payment amount per month will be really high I'm sure. Nicely explain to her these things and if she still won't listen, just wash your hands of it and let them be, there isn't anything you can do if she/they won't listen. KWIM?
    mom2BOYZnDad

    Answer by mom2BOYZnDad at 12:09 PM on Mar. 22, 2010

  • wouldnt it be smart to just find a rental place and seeing about gettin a shorter lease then worry about buying a house?


    Well it depends on the housing market where she lives but often times renting is a way of saving until you can find the perfect house and allows you to save up enough for a downpayment on your dream home as well as pay off bills. However in some cases buying a house is cheaper in the long run especially if they plan on living there the rest of their lives. You really need to look at hte housing market in that area but given only a 30 day notice her best bet is probably a 6-month lease at a rental property.
    KristiS11384

    Answer by KristiS11384 at 12:11 PM on Mar. 22, 2010

  • op here

    save up enough for a downpayment on your dream home


    they dont even have that, they had to get money from my mom so they could put gas in their cars to get to work....so i know they wont be able to cover closing cost or any other of the upfront cost
    Anonymous

    Answer by Anonymous at 12:14 PM on Mar. 22, 2010

  • In their situation, renting what they can find and afford sounds like the way to go. If they were in better financial shape I'd say get into a contract on a house by the end of this month so they can get the first-time home buyer's credit.
    Anonymous

    Answer by Anonymous at 12:17 PM on Mar. 22, 2010

  • Sorry but this is so funny. . . . are you SURE this is not my brother and sil you are talking about? They both quit their jobs in one state, moved to our state had a baby 7 months later (medical paid for by the state, the same state that they have only lived in for 7 months!), they moved out of a family members home before the baby came because they wanted their OWN place, so they rented a townhouse got phones, cable and so on and neither one of them had a job!

    I would just sit back and watch the house of cards crumble.
    Anonymous

    Answer by Anonymous at 12:23 PM on Mar. 22, 2010

  • Let her learn for herself.
    Anonymous

    Answer by Anonymous at 1:41 PM on Mar. 22, 2010

  • first of all they have to find somewhere to rent, becuase even if they buy a house it's at least 30 day closing.
    Anonymous

    Answer by Anonymous at 2:32 PM on Mar. 22, 2010

  • Sounds like my husband's line of logic, lol.
    We're prepping to move cross country. He has to be there by April 16. Kids don't get out of school until June 4. I'm due July 15 with baby #5. New school year starts at the end of August.
    He's not even looking for a place. He plans to just up and drive there 3 days before he's due to report and magically get a place to live. He's living in some alternate reality. Not to mention our credit is shot (declared bankruptcy last year) and we have no rental history (been living with family for most of the last 10 years). Most likely he'll be living out of his car for months while I'm stuck here living with my dad and 5 kids and trying to figure out how to pay tuition on their school here.
    Sigh.
    People like that won't listen to reason. They just have to fail.
    justanotherjen

    Answer by justanotherjen at 2:57 PM on Mar. 22, 2010

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