Finances and money

Saturday, February 09, 2008

Just the other day, my father and I signed a new lease where we are living. We had a huge rent hike, and I think we might have another once this lease term ends. We had been paying under the going rate for so long that they had to bump us up dramatically. For a small two bedroom apartment, we're paying as much as we would living in a house. We won't make the jump into a house though. We'd have to jump into a mortgage, and I'm not sure any of us are ready to do that. My dad is older, and my brother and I don't have the most stable of incomes. Even if my dad was to try to pay it off early with larger payments that wouldn't work. Sometimes its hard to just pay the monthly bills. If you do though, some lenders may knock down your payments some for being a good customer. First Time Buyer Mortgage is getting harder and harder to get in this market. Times are tough everywhere. The market is so unstable right now. I would love to have my own house someday, but it is something I'll have to work towards. It is good to keep informed though.