I bought a home in Jacksonville, FL that was actually out of my price range.
The bank said I could afford it. Nobody seemed all that shocked I was buying the place… Quickly after acquiring it I realized I couldn’t spend my money on the mortgage. I started getting behind on mortgage payments and I was worried about going bankrupt. I sold some of my stuff, worked extra hours, and still I couldn’t keep up. The home was just too much for me. I thought about listing it with a real estate agent. I then realized I might need to make substitutes. I didn’t have money for that. I also didn’t want to spend my money on closing costs and real estate agent fees. I needed a way to sell the house, get money, and not have anyone realize what a jam I got myself into. A local cash home customer totally saved my butt. Oh my goodness I would have declared bankruptcy separate from them. I got them to take my home behind mortgage payments. They offered me a fantastic price for it. I was able to get back in the green and afford a much smaller home not in the middle of the city. You know what, I cherish my new place more. I like that making my parents enthusiastic is simple. I like that it isn’t so grand and lavish. I also like that I finally have spending money again. It is way better to not be freaking about a mortgage payment each month. The cash home customer was great to labor with but easily I hope I never get in that situation again.