Me and my mortgage woes

Mortgage got the best of me

Me and my mortgage woes

Fidy Says

Mortgage got the best of me

14th January 2008

Well you may be wondering why I haven’t blogged for so long, I have a confession… the mortgage finally got the best of me! I decided to take a look at those companies who offer to buy your home from you but allow you continuing living there under a lease agreement. At first I thought this would be the perfect solution but believe me its not!

They want to take a minimum of 14% off the market price and then you’re only on a 6-12 month agreement so after that they can boot you out if they want and from what I have read in forums - this is generally the case. They make their money from selling the properties and therefore if they buy at that much under the market price and then sell it a year later they end up making a pretty little penny.

I don’t have too much to say right now about the mortgage but I will come back to you all soon :)

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