Jumping the gun...
>> Wednesday, January 6, 2010
Okay, warning, I may be jumping the gun w/ this post... but I don't care, I can't help but post about it.
We may have sold our Michigan home on a land contract today.
I am sooo hesitant to post that because no one has signed a contract yet but today, all parties agreed on the terms!
Until the papers are signed, nothing is official so I'm trying really hard not to count my chickens before they hatch, but considering they were the ones who initiated the whole deal, I'm hopeful.
The sooner we sign some papers, the better I will feel until then, why would I withhold the play-by-play from my blog readers? Of course I can't do that!
Currently, we lose $231 per month on our Michigan home when you take into consideration mortgage, home equity loan, property taxes, and homeowner's insurance.
The $231 loss per month does not take into consideration home improvements or repairs that we've had to do which average $100/month (i.e. we had a $600 repair at one point but some months we have no repairs).
If we close on the terms we all agreed on today, we'll lose about $92 per month but they will be responsible for all repairs.
But our house will be sold in 2-3 years so the bleeding will finally end! There's an end in sight, a light at the end of the tunnel!
Keep your fingers crossed for us please!
KelsaLynn
5 comments:
Hey! That's great news! I'll keep my fingers crossed for you guys! Good luck!
I really don't get how land contracts and all that stuff works. But, I know you've done you're homework before making this decision so I hope it all works out!
That's great that you're reducing your loss per month and have sparked that light at the end of the tunnel. Your net worth is just going to keep improving!
Way to go guys!
Wow! That is great news...I'm keeping my fingers crossed.
I love your blog post on Financial Peace. In fact, I like it so much, I want to know if I can have your permission to copy and paste it to my other blog:
http://jamiealexmomma.blogspot.com (My Money Mission).
That blog focuses more on money issues.
I can't wait until I have enough in savings to be able to view things like this as inconveniences and not emergencies!!
good news! whichever way things go, i hope it works out soon!
also, you showed up in my google reader! hooray :) i guess it took a few days for blogger/google to sort out the new-privacy-list 'cause i got the previous 4 posts at once. no biggie, just glad i will still get auto updates!
EEEEKKKKKK! That is frickin awesome. I'm crossing my fingers this works out for you.
Great news about the house! I have my fingers crossed for you guys!
Sorry to hear about the car issues, but glad you add the cash flow to cover it!
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