Wednesday, February 13, 2013

Home Loans

  Before we had our own apartment, me and my husband used to live with my father in-laws house. I wrote an article about it a couple of times here in my blog. It is a nice 3 bedroom house with a swimming pool, but I didn't have a chance to enjoy the pool when I first arrived here in the US because my husband decided to make it as a fish pond, due to the fact also that the pool got neglected. Anyhow my father in law first bought that house 20 years ago,with his wife and two daughters,until his two girls moved out and went to college and his wife moved out also after a couple of years. Until 2010, my husband come to a conclusion that he doesn't want to live in the Philippines anymore, and my father in law was so kind to let him stay on his house while waiting for me to finish the processing of my visa. Finally after 7 months of processing and a year and a half of not seeing each other, I got my visa and flew right away to the US. So from that time, we stayed in my father in-laws house for almost a year, it was so nice of him, he let us stay in his house for free of course beside the food and some basic commodities that's in our shoulder.

 At first we had a planned of buying the house, because that time my Father in-law still paying the mortgage and he said that the house is too big for him and too hard to maintain. But it turns out that we can't afford the monthly mortgage of the house so we ended up renting an apartment. We tried to apply for a house loan but we give up because its too complicated with all the paper works they want and you have to have a good credit score too. My father in-law seeks a lot of advice from his attorney on how to reverse his mortgage to be able to save his house and not declare bankruptcy, because his been paying the mortgage for 20 years and losing it is gonna break his heart, the house is part of his life, he had a lot of beautiful memories that I know he doesn't want to give up that house. Its just so sad that he can't find any way to get a loan or refinance it. If only we can help money wise but we are also poor, we just live as they say overhere "live paycheck to paycheck", just enough to pay the bills and have food in the table.

1 comment:

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