I know everyone is very bored hearing about the DPOD (damn pool of doom) but it's not really about the pool. It's really about finally having a house, and something I've always wanted and have worked a lot of years to see happen.
It was one year ago around this time last year that I had the bright idea that I wanted a pool. Well, I've always wanted a pool, so the bright idea was more like I'd check into having one built. At the time, I didn't even own the house I was living in. Ummm yea.. real Bright idea there, huh?
We (my parents and I) bought this house so that we all could live together. My father put down a deposit large enough so that I could afford the mortgage, even though it was in their name. In exchange for taking care of them until they died, and paying all the household bills, when they passed I would 'get' the house.
After they had passed away, I couldn't qualify for the mortgage, so I left it in their name and continued on as usual. Then one year, the IRS no longer kept my tax refund. Seems my hubby, while we were married, didn't actually pay the taxes we owed and now divorced, I was still 1/2 of the responsible party. So they kept my refunds.. For 6 Liens. .. and at 6 figures. Then one year, I got a refund. I also got a substantial raise at work and a second job. And I got the bright idea about a pool.....which lead to the bright idea to see if I could qualify for a mortgage. So on line I went to a site that said something like "see if you can qualify for a mortgage." So I figured what the heck.
I was actually terrified the mortgage company would find out that the 'account holders' had passed away, and that the company would take the house. But this had been hanging over my head for 5 years and I needed it resolved.The credit report wasn't good. And I was told I needed to call the IRS and get letters stating the liens were paid. Calling the IRS was like telling me I needed to sleep with a cobra. There had been 6 liens. Make that 6 cobras. And I'm deathly afraid of snakes.
Surprisingly enough, the IRS was, for the most part, very cooperative. I spent weeks on the phone tracking down the right people, asking for faxes and letters to show the liens were lifted. I applied to 5 lending companies, and then a bank. I figured I would try everyone. I got 3 offers for a mortgage. It took 2 months. Interest rates were now 1/2 of what I was paying.
I called pool companies and had them come give me quotes. Then back to the lending companies to see what that added cost would do to my mortgage. I also wanted to pay off my Jeep and some credit cards if possible. I checked out mortgages, home equity loans, interest only loans, every option I could think of. I was trying to be smart about how to do this.
I found out there was a lot of equity in the house (and there still is) and that I would actually decrease my monthly bills even with a pool financed into the mortgage. Spread out over 30 years, the pool cost became 'small'. That and the $500.00 car payment would be gone. I could actually do this... IF I stuck to a strict budget. IF I did that, I could actually own my house, and have a pool. Believe me, after 13years of financial hell, nobody was more surprised than I was. So now here I am. A year later after beginning this. It may be a pool of doom at the moment......... but still, there's a huge smile on my face.
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