fo'do'baggins wrote:
well hell if you build, you're still going to have to borrow the money from someone to pay for the house going up. and not all of the mortgage companies are flopping. just the REALLY big ones. Plus I had money to put down, and I have great credit, so I'm not that big of a risk, so even while they're being really picky, my credit is good enough I should easily get the loan, (so the mortgage lady told me). I've gone about buying a house the smart way. not saying, well I don't have any money, so I think I'm gonna buy a house. plus I still have a pillow to fall back on if money gets tight.
noone said you wasn't going about it the smart way, but theres alot very Smart people loosing there homes right now, thats just the point i was getting at.... there was a nurse on the new the other day in mississippi that was loosing her home cause of the mortgage company was going down who they where with, so that company sold all its deeds to a bank and the bank raised there payments so high they had to leave, they are now Renters of a fine 3/2/2 house now living great for a payment of like $1500 a month which they where paying like 1700 something on there mortgage her and husband both worked in health care so it wasn't like they where loosing there jobs or nothing they just got screwed by all of this....
but if i had to borrow the money by the time i am ready to build a home my mother and me and my sister have been with the same bank for years moms been with them for 15 years me and my sister for 8 and that bank isnt going down for awhile...we know the loan officers there real well...but thats no time soon ill be 30 or 35 before i am ready to build a home..
eitherway i am not trying to pour water on your fire, i was just stating a fact bout the economic crisis we are having, i wish you luck with it and congrates if you get it...