Making Moves

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Home Sweet Home

Homeownership is overrated. Let me share my personal experience:

I was conditioned, like many Americans, that homeownership is something you had to do...just like going to college and getting married, etc. There is a certain accomplishments in life you are supposed to achieve...I drank that Kool-aid until the last crusty sugary bottom.

So in 2006 I bought a home. In an area I could afford because my teacher's pay and the fact that I am single allowed me only so much to buy. I was realistic on what I could afford. I didn't think I bought a home that was too expensive and knew that my payments had to be realistic. I was excited although it was not what I wanted location wise or style...(townhome in the SWATs)

Fastforward to the economic crisis in hand.

Luckily when I moved to Korea, I found someone to rent my home. Albeit, I pay a large sum to keep her in there to avoid foreclosure and also it is nice to come home on the breaks...so I am like the roommate that is never home.

Now while these banks and governments are telling you that it is morally wrong to walk away from your home. Get this.

In the winter of 08, my homebuilder Centex said they will no longer be building any more homes and have sold the rest of the property to someone else. Now my home sits in an unfinished complex with more than half of the lots empty. Yes about 400 lots are empty...weeds have grown over the land where homes should be.

Then the buildings they decided to finish, they used lesser materials. Like instead of the sliding glass doors, they put in one regular door. Instead of double pane windows in the bedroom, they put in a lone pane.

Hmmm...so you telling me..that Centex can just bounce and sell the complex to cover their assess..I mean assets, and then use inferior product on the rest of the buildings and leaving the complex empty...therefore bringing down my property value? Hmm.

But I should be a "good" person and pay my mortgage. Riiighhht

So then this past summer, I get a letter from my mortgage company Wells Fargo.

My taxes are going up...therefore my mortgage is going up..by like 300 dollars.

WTF!?

Now I knew that my rate was adjusting to 5.8 that fall raising my mortgage a hundred bucks. But an additional 200 on top of that?

So I realized that because of the amount of foreclosures in the area...I, the respectable homeowner, must shoulder the cost of the taxes...this is bullshit.

Oh...did I fail to mention that there are sooooo many break ins at the community that it is like a seasonal flu. Once someone gets it...so will their neighbor. My friend's mom's house has been broken into four times. Mine once and these Sons of Sorry People took a bunch of ish I could care less about, one item that meant the world to me (my mother's Cartier watch...that she busted her butt to buy) and just overall violated my sanctuary.

Builder's Website:

Devon Model, three bedroom, 2 1/2 bath...$125,000

Oh helllllll nawwwww.. The price of my home on the Centex website dropped thirty thousand. So I lost 30 gs, doing n-o-t-h-i-n-g.

I haven't checked since this summer. I am too sick as it is.

Homeownership is overrated.

Then some section 8s moved in next door in the summer. Well, let me be fair, who knows if they are...they just behave like renters...blasting music, smoking weed, throwing too many parties...running the community down with ghetto blinds (sheets on windows), leaving trash in the parking lot and speeding in the complex.

I opened my email and get a letter today (2/09) from the HOA saying that security will no longer be on premises. And we can't afford to pay out of HOA dues, cause so many people are delinquent.

Yes, please rip me another asshole...next to the other four..

So, you telling me that I should be honorable, pay my mortgage for a house in a complex that has been abandoned, that has been robbed so many times and the cops do nada, that even security is gone. I should stay right?

I called Wells Fargo and asked about some modifications.

You aren't delinquent

Sooo...I need to not pay (screw up my credit) then you will talk to me?

yes..

Welllll fuuuuuuuuuuuu*****kkkkk me then. I might as well bend over one more time.

Cause what's one more!?, It boils down to ....I worked too hard to have good credit. However, I am really contimplating saying to hell with the American dream and letting my house go when my tenant moves out. Hell, everyone is having financial troubles!

Don't tell me "that ain't right" either!

I mean, I don't understand when did a business decision become an emotional one. Centex had no love for me! HOA management could give a f*&k! Wells Fargo isn't worried about me!

Where is my bailout?

Home sweet home my ass.