[mgrace]

I been trying to find a better house to live in, one we can buy and own.

Me and my Mother live at the same home as I am the only one who takes care of her making sure she has transportation to doctors appointments, shopping, etc.

Right now the house we are renting is an hours drive to the hospital and doctors.
Also it has two places in the roof that are leaking, there is no water that is drinkable (we have to buy bottled water), it is heated by wood and neither one of us is able to cut wood anymore with both of us being disabled and can not afford to buy enough wood for the winter, plus there are other problems with this crappy house.

I have found several houses that would be perfect for us over the last year but have not been able to get any of them due to one reason or another.
My credit use to be pretty good, I qualified for up to a $64,000.00 loan, then my sister had me co-sign 5 or 6 years ago for her to be able to buy her home, but she has since lost the good paying job she had and has fallen way behind on her payments so this has affected my credit rating and made it drop like crazy.

I have now found a fairly nice home that would be perfect for us, it is a 3 to 5 minute drive from the hospital and close to all our other doctors also.

With my credit rating their is now way I can qualify for a loan at all now, and my Mothers credit rating is pretty much non-existent as she has never bought anything on payments.
We are trying to get my Aunt & Uncle to co-sign with her so we will be able to get it, but that may take 7 to 10 days for the bank to get it OK'd and approved and that will probably lose us the chance at this house as their is someone else put an offer in on it today as well.

This house would be perfect us, it's close to medical care/help, it is a 3 bedroom, 2 bath with attached garage, it also has a small/medium sized apartment on it that can be rented out to help pay extra on the mortgage payments and I have a friend that already wants to rent the apartment for $450.00 a month if we can get it.
The asking price is only $26,000.00 plus about $3,000.00 closing costs.
We already have $2,000.00 saved up for a down payment and should have about another $1,000.00 by the first of the first of the month to go with it.

Please pray for us, that we will be able to get a loan with my Aunt/Uncle cosigning for my Mom and that we will be the ones whose offer is accepted.

Thank You
Michael Grace

 

[hunter177]

Prayer Request

My prayers go out to you and your mom. God bless!!

 

[jmortimer]

Prayers done for you, your mother and the perfect home for you all. You got a great last name God Bless you Brother.

 

[jodum]

My prayers go out to you and your mom. I too am a caregiver for my 91 year old mom. Thank goodness we live where we live as we are right in the middle of one of the largest medical facility areas in the south. We never have to leave town for a specialist.

 

[Bigbore4me]

Michael,

I will keep this issue in my prayers. My best wishes to you and your mother. God bless!

I am in real estate and I'd like to suggest something if for some reason this does not work out. There is such a thing as "seller carry back" (called different things in different sates) but basically you buy the home from an owner who agrees to let you make them payments without the issues of credit and qualifying. There is low risk to the seller as they get the house back if the buyer defaults and it is a real win for a buyer who is trying to get back on their feet. It is all very legal and recorded with a title company in my state and down the road you can refinance for a conventional loan if you want. Not too many sellers can do this so you may need to find a realtor who can help find a house and seller. The other nice thing is the closing cost are often greatly reduced.

 

[mgrace]

Thank You everyone.

Bigbore4me, the place we are trying to get is owned by a bank and they want it cashed out to them and you make payments to whatever bank/mortgage company you get to finance it.
We are still waiting to hear from our bank if they are going to give us the mortgage on it using my Aunt/Uncle as co-signers.
I think I will call them in the morning and ask them what is going on.


Michael Grace

 

[Chief RID]

It is good to here from you Michael, even though the circumstances. Just know that my prayers, if they made it through my ceiling are on the way and....well.... they are already there. Know the best is on the way for you and your Mom.