Terrible News - I feel sick

RobertoMoir

Housebuyer958 wrote: »

Points in reply

- Yes
- Yes
- Wrong
- Wrong

Well I hope it doesn't go wrong for you. But I've *seen* it happen to people who were just as sure that they knew better as you are.

But then you used to be a baliff, which means you morally have something missing anway

Really? Or maybe I'd just rather do unpleasant jobs than sit around on the dole?

But do go on... Perhaps you can explain why I'm spending some of my time here helping people if I'm such a moral void? I'm always delighted to hear from total strangers who know me better based on a few forum posts than I know myself.

Housebuyer958

Sorry. I'm just getting sick of being told what I can't do.

Dan_1976

Your not being attacked, your post and many like it have been popping up for some time.

No more are people getting mortgages based on a good deposit and a pulse!

Things will get worse, budgets cut, jobs lost so this may be a good thing.

iB1

I can understand your frustration, but I'm just very concerned that you're attempting to buy in haste and may end up repenting at leisure.

Roberto's earlier post made perfect sense to me. Get the DMP paid off. Pay off the defaults until they're gone off your credit record. That way, you'll get a better rate of interest and less things to have concerns about. Why can't you rent in the catchment area of the school you're looking at for you children for now and buy in a couple of years time?

Housebuyer958

As I said before. The houses in my area cost more to rent than to pay a mortgage. I already pay rent to my in laws so why give someone outside the family money.

I understand why you think that I'll just get the mortgage and then not pay it but I pride myself on the fact that my bills are always paid as a priority. You guys are looking at my situation in the same way a bank does, which ultimately is how I will have to accept what ever happens but i didn't think this forum was somewhere that you would expect that attitude.

I'm looking for advice to move my situation forward not back and it is clear that all of you live perfect debt free lives so I don't expect that you would be able to empathise with my situation.

I think maybe this thread should just end now

beecher2

Housebuyer958 wrote: »

I'm looking for advice to move my situation forward not back

You've had plenty of advice on how to move your situation forward. Get rid of the debt, build up savings, then buy a house. Spend time on the debt free forums for help - I agree that this board might not be touchy feely enough for you, but you do get practical advice.

joolley

Housebuyer958 wrote: »

I agree - my Dad was made bankrupt years ago, and after about 2 years he had the best part of 50,000 in credit cards (not that he uses them)

Look, I've tried not to get involved in this thread because I didn't think I had anything to add. And I didn't want to appear to attack you, as that is not my intention. But with your Dad's history of bankruptcy, is borrowing from him for this project the best way forward?

Don't take this the wrong way. Just a question. Perhaps things are much better for your Dad.

RobertoMoir

Housebuyer958 wrote: »

You guys are looking at my situation in the same way a bank does, which ultimately is how I will have to accept what ever happens but i didn't think this forum was somewhere that you would expect that attitude.

Well we're on your side, not the bank's, but yes, people here will look at your situation dispassionately, after all we're not emotionally invested in your life. That should be an advantage provided you're looking for advice, rather than re-assurance about a decision you've already made.

I'm looking for advice to move my situation forward not back and it is clear that all of you live perfect debt free lives so I don't expect that you would be able to empathise with my situation.

My life is my business, though I'm willing to bet I've seen debt and poverty that would turn the heads of most people.

I don't think my earlier advice to sort current situations out first and take care of things one step at a time was advice aimed at moving your situation "backwards". Quite the contrary in fact. I haven't seen a lot of what I'd consider "negative" advice from anyone here at all.

surreybased

Hi,

I can understand your desire to get your children into a good school but don't rule out the renting option. Calculate the rental cost over and above the realistic mortgage costs (you could also include buying costs) and then consider if it is 'worth' it to get the school. Even if you exclude buying costs I guess the figure will be less than a family holiday to Disney.

No one knows what will happen to house prices - IF they decline over the next few years, renting will not have been dead money. It will actually have saved you money.

downhillfast

Housebuyer958 wrote: »

I don't want to seem like a spoiled brat or anything but I don't really see why I should not move forward this if I can.

I'm not skint every month - I already pay about £850 rent every month so an extra £100 per month for a mortgage seem fine. And my wife will be working full time from August (for the first time in 10 years) and the household income will go up by around 500-600 per month.

As for the money I owe I have two opinons on this:

1. I have been paying these off every month for almost half my life. they don't bother me, I don't lay awake thinking about them in fact they are considered just another bill of £100 per month that comes out with the Electric, sky, etc, and I haven't had a letter chasing me about these debts for getting on close to 6 years now. If I have the oppotunity to get my own house and the sums work out (ie my repayments aren't hundereds of pounds more) then I don't see why I shouldn't just because I have a few debts. I never try to get anything on credit now - everything I pay in cash.

2. If I can't get a mortgage because of the debts then I know that I will have to get them paid off quicker than I had previously planned and I can work that out if I need to.

If my creditors are happy to be paid a few quid each month then why should I offer to help them beyond that......they have never done anything for me.

If I can get a house (which doesn't affect my month to month budget) then I will. If I can't because of the debts then at least I know the score.

But I can't see why you would say that getting a mortgage would turn into a nightmare.....as I said, the mortgage is about £100 a month more than what I pay now and I currently have about £300 per month of excess money, with income going up from my wife and also expenses coming down as my kids go to secondary school they won't need looking after school clubs (approx £350 per month).

Doesn't your DMP get reassessed each year??? Surely you're not giving these figures to them and still only paying £100 a month towards your debts? You sound like you're quite happy to "spin" anything the way you want it to be and could be heading for a fall if the DMP get correctly adjusted!