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The new paradigm is here...lose your job, buy a house anyway

 
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GenXer



Joined: 20 Feb 2009
Posts: 703

PostPosted: Sat Apr 04, 2009 1:02 pm GMT    Post subject: The new paradigm is here...lose your job, buy a house anyway Reply with quote

But it was on sale!
Quote:
http://money.cnn.com/galleries/2008/real_estate/0812/gallery.home_purchases/index.html
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balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Sat Apr 04, 2009 5:52 pm GMT    Post subject: Reply with quote

They're paying only $38/mo more than their rent. And then there's the 40% of other fees and the commitment to keep paying that fee regardless of what his income will be at his next loan officer job.
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nickbp



Joined: 26 Feb 2009
Posts: 75

PostPosted: Sun Apr 05, 2009 10:32 pm GMT    Post subject: Reply with quote

Assuming you're referring to the Madera, CA family:

While it says that the husband lost his job, the wife is also employed. Personally, I might have waited until a new job was found, but it's not like they're being unreasonable if her income is sufficient to make the payments in the meantime and her position is secure.
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