HomeComing Financial/GMAC Money hungry PHOENIX, Arizona

Car fever has moved up now to house fever. That newer model looks better than the one in the $200 neighborhood with smaller yards, small garages and yikes, you can hear the children playing, can't have that can we? lol

People used to take their time to find a house, they would spend months paying down debt before even looking for a house, so that if a emergency should arise like a wife becoming pregnant or a job downsized they would not be in a pinch. They used their head and knew ahead of time the price of the house they should not even go over. So they knew ok this area is generally out of our price range.

These so called "predetory lending" are nothing more than a used car salesmen dressed up as a realtor or a construction man showing a new subdivision going up. People see a way to get that newer, better, shiner house and think "wow, I can have this and trade it in or re fi in a couple of years and I do not have to be smart or reasonable at all in my purhcase. I do not have to think ahead that this may not be smart because surely this guy is telling me the truth. Why have a lawyer look over all these many pages of legal jumbo, yes I feel pressured, but I will just ignore the fact that I have little or no savings at all if things to not go "perfectly" like the realtor has said it will go.

When have things gone perfectly as planned? It is important folks to actually buy what you can afford without having sweat beads pop out on your head the day you close. Do not push those uneasy feelings away, it is important to listen to that voice God gave you called intuition. Stop wanting fast food housing. It took your parents 30 years to have that bigger, nicer house with wide streets, large lots, 3 car garages! Do you think that the Jones' do not get forclosed on? I know differently because I have to inspect their home after they have lost it. I am the one who sees what you leave behind in your home. I find your bankruptcy payments, your many credit card bills pilled all over your closets. It is sad that many of you thought having 2 Hummers in the drive, a built in pool in the back, a 2k play gym for junior was smart. Guess what? A mile down the road was a smaller neighborhood, with smaller houses that was nice and neat and would have been afffordable. People their drive smaller, less expensive cars, true it may not be quite as nice, but they may go to sleep at night just a little easier knowing that they had a lawyer check over their closing papers before they bought their home and they knew that they could afford the house because it was only 1/4 of their family's income. They had no credit card debit and their cars are paid for, leaving green paper bills in the bank called money! Shocking I know, but that is what our Country needs to get back to instead of pushing, newer, nicer and more expensive. As people are discovering, slow and steady wins the race. If only they applied it to buying houses, like our parents did..........think about it. Is the stress of wondering "can I afford it if I can not refi this house in 2 years really worth it? Or would you rather buy the smaller house where it is on a fixed 15 yr loan a smarter purchase in the LONG RUN? I know because I bought the smaller house on a acre of land in a subdivision, but I have an affordable payment, my 2006 Equinox is paid off and true my bedroom furniture was my grandmothers, but that it is ok by me. I do not stress about it. Would I love to be down in the next subdivision where yes I could qualify for and it is much newer and nicer to many of you out there........Nah, in a couple of years my house will be paid off. Now that my friend, is called Living!

God gives us discernment,it is time to begin to use it again. I hate to see people lose their homes, to me that is a sad time. i do not enjoy having to inspect these homes because I know it is a dream destroyed. I only hope people begin to think about how they got their and do it differently, slower and think about what is smart. If it is not a smart purchase, walk away. No one puts a gun to your head, you can and you MUST learn to simply walk away. In the long run you will lose much less money and headache if you walk away from a deal than if you struggle through the heartache and stress of either a forclosure or a bankruptcy. That is much harder. So use your intuition and take your time. A house purchase is a big thing. Use your brain God gave you.

This is directed at all people and not just the OP. I see this situation daily all day long where people knew when they signed everything needed to go perfectly in life to make this a smart purchase. When has anything in life gone "perfectly"? If so, you are the exception. Plan for emergencies. Believe me, they will happen! If you have an emergency fund then it does not matter what the economy is because you will have planned for it and can make it by with ease.

I pay my mortgage on time every month. Not an easy task in this day and time, but I do it. Shouldn't I be rewarded by my mortgage company by reducing my principal balance halfway between what my home is worth and how much I owe? If they reduce you, they should reduce me too.

How can you blame another for talking you into something you can't afford? It's not up to others to tell us what we can afford. It's up to us to figure it out for ourselves. They tell us the payments before we sign. Whether we are qualified for the loan or not, it's up to us to know better.

With all the info on the internet, I can't believe people did not do research on the types of loans they were getting B4 they purchased a home worth hundreds of thousands of dollars.

I pay my mortgage on time every month. Not an easy task in this day and time, but I do it. Shouldn't I be rewarded by my mortgage company by reducing my principal balance halfway between what my home is worth and how much I owe? If they reduce you, they should reduce me too.

How can you blame another for talking you into something you can't afford? It's not up to others to tell us what we can afford. It's up to us to figure it out for ourselves. They tell us the payments before we sign. Whether we are qualified for the loan or not, it's up to us to know better.

With all the info on the internet, I can't believe people did not do research on the types of loans they were getting B4 they purchased a home worth hundreds of thousands of dollars.