Re: Confessions
Obviously, you don't live 700+ miles away from your beloved.
A teleporter would be AWESOME!
- - - Updated - - -
Dude...I'm sorry. That sucks.
I don't know what to say.
I'm sorry, bro.
Originally posted by Ophidia
View Post
All this talk of teleporters is scary.
If you have to take me apart to get there, then I don't want to go.
If you have to take me apart to get there, then I don't want to go.
A teleporter would be AWESOME!
- - - Updated - - -
Originally posted by ChainLightning
View Post
Alright. Sorry about that. The phone uses a virtual keyboard that doesn't stay open very long, for me to be able to type all that much at once. Once it closes, then everytime I reopen it, it takes less than a second before it closes again. Leaving MAYBE a chance to get a letter typed before having to try and get the damn keyboard to show up again. "Anyway, that's not what I came to tell you about..." to quote Arlo Guthrie.
Back before the market crashed, the 22-acre farm, was valued at about $365k. (We only own, actually, 10 of those 22 acres.) Directly behind this 22 acre farm is another 28 acre chunk of useless swamp that we co-own with my uncle (that owns the other 12 of this 22 acre piece). There's also a family owned gravel pit, or part of one, that is 10 acres and we've been trying to sell or otherwise unload that 10 acres for better than 10 years, now.
Then the market crashed. Hard. Our house, and land it's on, dropped to a low value of just $215k. Property taxes came to roughly 4-5 thousand bucks a year and were the same for the gravel pit, though my uncle paid the taxes on the pit, for which we owe him half.
Enter, the Reverse Mortgage.
With the house valued so unbelievably low, yet the taxes still falling a year behind the value, and money being in short supply, in a household of no less than 3 adults and 2 kids, Ma looked into RMS, at first as a curiosity. Then as a plan. They came out and checked around the neighborhood, valued the house (sellable for) about $190k. For which, they'd give mom a RM for close to $160k, to pay off the mortgage she had and a few other lingering debts. (The reason the RM was that much lower is that the principle of the RM increases over time. There's a formula, I guess, for looking at one's age and the value of a property in order to estimate where the principle will peak at the time of death. Or something like that.) She took it. Freed up a boat load of her fixed income and was left with a line of credit - the remainder of the RM cash, after paying everything else off - that would cover property taxes and repairs, or whatever else.
Then Alissa died. The entire cost of the funeral came out of that RM. So much so that the forum and a walmart distribution center came together in a HUGE way, to buy a headstone for that 23 year old girl, that lost her life to cancer. That was 2009.
Since then, I'm reluctant to admit, I spent two years trying to salvage my marriage, and living in Iowa to do so. Leaving my mom to fend for herself up here, and handle her own finances for a change. (There's a pile o'drama that even includes my mom calling the police and my wife and me, regarding her finances, prior to my [now ex-]wife's suicide attempt and subsequent departure from anything and everything even remotely related to my mother.) In that time, she paid no property taxes; she went months without propane, hot water, heat, cooking, hot showers and even electricity for a while; she spent her money how she saw fit and gave little attention to what needed to be paid.
Then my divorce.
I had to try and pick up the pieces of my own life, and overcome my own suicidal intentions, as well as work to get my mothers finances back under control. Going several hundred dollars overdrawn, every single payday, after all, is not a good thing. But there's no money left to do repairs on the house. And nowhere near enough money to even attempt catching up on taxes.
So, the RM folks intervened on the tax thing, and they paid the back taxes. Then paid them again. And again. And now, refuse to put her even more in the red than the $22k that she already is, with them. Even though the value of the house is going up. It's already back up to about $285k. However, because of her age, they can't refinance the RM since FHA will only allow about $195k for a mortgage and right now the principle, including the back taxes/overdrawn shit, is over $222k.
We can avoid foreclosure, for the time being, if we somehow manage to create $22,000.00 out of thin air. We can sell the property but because of unaddressed damages, it's doubtful we'd be able to get anywhere *near* what the county says the home is worth tax-wise (that $285k), let alone market-wise. The RMS suggests a Short Sale (for those that don't know: A short sale is a sale of real estate in which the proceeds from selling the property fall short of the balance of debts [secured by liens against the property] and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.), which would leave us broke and homeless, or a Deed-in-Lieu (A "deed in lieu of foreclosure" is where the homeowner voluntarily transfers title to the property to the lender in exchange for a release from the mortgage obligation.) which would leave us broke and homeless.
The other option is to just talk to a realtor, put the home up for sale, and take the proceeds from that sale to pay off the RM and have a few thousand dollars left to buy a new place to live.
Which is why I'm looking at towns no bigger than a couple thousand people, at most, where home values are in terms of tens of thousands, like somewhere between $25k and, if we're extremely lucky, more like $90k. The needs, that both my mom and I have, involve moving southward, staying away from the coasts and tourist traps, while remaining close to major hospitals with really good cardiac facilities, possessing extremely low tax rates, and in very close proximity to forest and water. Whilst also having municipal water, phone, electric, cable, hi-speed internet, and natural gas (her peak propane costs HERE hit a max of $1300 in a single month, while I was in Iowa).
This confession also includes the fact that I can see, quite easily, that my mom's demands on where to move to are going to require massive compromises, settling for less than ideal, and possibly even having to cope with living in a home she vehemently despises and resents. Not to mention can't afford.
Back before the market crashed, the 22-acre farm, was valued at about $365k. (We only own, actually, 10 of those 22 acres.) Directly behind this 22 acre farm is another 28 acre chunk of useless swamp that we co-own with my uncle (that owns the other 12 of this 22 acre piece). There's also a family owned gravel pit, or part of one, that is 10 acres and we've been trying to sell or otherwise unload that 10 acres for better than 10 years, now.
Then the market crashed. Hard. Our house, and land it's on, dropped to a low value of just $215k. Property taxes came to roughly 4-5 thousand bucks a year and were the same for the gravel pit, though my uncle paid the taxes on the pit, for which we owe him half.
Enter, the Reverse Mortgage.
With the house valued so unbelievably low, yet the taxes still falling a year behind the value, and money being in short supply, in a household of no less than 3 adults and 2 kids, Ma looked into RMS, at first as a curiosity. Then as a plan. They came out and checked around the neighborhood, valued the house (sellable for) about $190k. For which, they'd give mom a RM for close to $160k, to pay off the mortgage she had and a few other lingering debts. (The reason the RM was that much lower is that the principle of the RM increases over time. There's a formula, I guess, for looking at one's age and the value of a property in order to estimate where the principle will peak at the time of death. Or something like that.) She took it. Freed up a boat load of her fixed income and was left with a line of credit - the remainder of the RM cash, after paying everything else off - that would cover property taxes and repairs, or whatever else.
Then Alissa died. The entire cost of the funeral came out of that RM. So much so that the forum and a walmart distribution center came together in a HUGE way, to buy a headstone for that 23 year old girl, that lost her life to cancer. That was 2009.
Since then, I'm reluctant to admit, I spent two years trying to salvage my marriage, and living in Iowa to do so. Leaving my mom to fend for herself up here, and handle her own finances for a change. (There's a pile o'drama that even includes my mom calling the police and my wife and me, regarding her finances, prior to my [now ex-]wife's suicide attempt and subsequent departure from anything and everything even remotely related to my mother.) In that time, she paid no property taxes; she went months without propane, hot water, heat, cooking, hot showers and even electricity for a while; she spent her money how she saw fit and gave little attention to what needed to be paid.
Then my divorce.
I had to try and pick up the pieces of my own life, and overcome my own suicidal intentions, as well as work to get my mothers finances back under control. Going several hundred dollars overdrawn, every single payday, after all, is not a good thing. But there's no money left to do repairs on the house. And nowhere near enough money to even attempt catching up on taxes.
So, the RM folks intervened on the tax thing, and they paid the back taxes. Then paid them again. And again. And now, refuse to put her even more in the red than the $22k that she already is, with them. Even though the value of the house is going up. It's already back up to about $285k. However, because of her age, they can't refinance the RM since FHA will only allow about $195k for a mortgage and right now the principle, including the back taxes/overdrawn shit, is over $222k.
We can avoid foreclosure, for the time being, if we somehow manage to create $22,000.00 out of thin air. We can sell the property but because of unaddressed damages, it's doubtful we'd be able to get anywhere *near* what the county says the home is worth tax-wise (that $285k), let alone market-wise. The RMS suggests a Short Sale (for those that don't know: A short sale is a sale of real estate in which the proceeds from selling the property fall short of the balance of debts [secured by liens against the property] and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.), which would leave us broke and homeless, or a Deed-in-Lieu (A "deed in lieu of foreclosure" is where the homeowner voluntarily transfers title to the property to the lender in exchange for a release from the mortgage obligation.) which would leave us broke and homeless.
The other option is to just talk to a realtor, put the home up for sale, and take the proceeds from that sale to pay off the RM and have a few thousand dollars left to buy a new place to live.
Which is why I'm looking at towns no bigger than a couple thousand people, at most, where home values are in terms of tens of thousands, like somewhere between $25k and, if we're extremely lucky, more like $90k. The needs, that both my mom and I have, involve moving southward, staying away from the coasts and tourist traps, while remaining close to major hospitals with really good cardiac facilities, possessing extremely low tax rates, and in very close proximity to forest and water. Whilst also having municipal water, phone, electric, cable, hi-speed internet, and natural gas (her peak propane costs HERE hit a max of $1300 in a single month, while I was in Iowa).
This confession also includes the fact that I can see, quite easily, that my mom's demands on where to move to are going to require massive compromises, settling for less than ideal, and possibly even having to cope with living in a home she vehemently despises and resents. Not to mention can't afford.
I don't know what to say.
I'm sorry, bro.
Comment