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kramer_192
New Poster
Cash: $ 0.45
Posts: 2
Joined: 02 Mar 2010
Location: MS
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| Personal Finance Question |
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I am new here and was wanting to ask a question.
I was wondering who I should talk to about my current financial situation. I was just wondering who that person should be. I just want to see what I can and cannot do at this moment in my life. My wife just got into vet school and we are trying to see what we should or shouldnt do here in the near future. So what is the title of a person I should talk with?
I guess that is the question I am wanting to ask. I dont really know. Just let me know what yall think.
Thanks
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Tue Mar 02, 2010 12:50 am |
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oldguy
Senior Member
Cash: $ 308.30
Posts: 1476
Joined: 21 May 2006
Location: arizona
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Kramer - don't worry about who to ask, just ask the question here online. Someone may jump in and give you your answer. 
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Tue Mar 02, 2010 2:01 am |
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coaster
Senior Advisor
Cash: $ 1356.80
Posts: 6681
Joined: 11 Oct 2005
Location: Wisconsin
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Actually, the best person to ask is the person right above me ^^^^^^^^ 
~Tim~
Eye Candy : Why Whimsy
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Tue Mar 02, 2010 4:01 am |
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kramer_192
New Poster
Cash: $ 0.45
Posts: 2
Joined: 02 Mar 2010
Location: MS
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It is more of a sit down thing. My wife just wants someone to sit down with us and tell us what they think we are financially capable of right now. I think mainly she just wants someone to tell us that it is okay for us to buy a house. I am a first year school teacher in MS. Therefore, I dont make alot of money, and she is gonna be in vet school with no income. I dont think it is smart to buy a house right now. We now live in the trailer I bought when I moved to Starkville, and we pay lot rent, and that is cheap.
With financial times the way they are, I just dont think it is a wise idea.
I have talked with my dad about it and he has been a loan officer for about 30 years and he doesnt advise it, as well as some other family friends.
That is it in a nut shell.
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Tue Mar 02, 2010 10:28 pm |
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Raptor
Full Member
Cash: $ 14.50
Posts: 70
Joined: 15 Nov 2009
Location: Missouri
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The housing market is predicted to have another 6% decline over the next year, no issue if you are buying for the long term. I'm currently moving in May and just signed a contract to purchase a home. Renting is currently more expensive than purchasing. The low interest rate is worth thousands of dollars per year; don't pass these rates up if you are looking to stay in your home for several years. The Feds will stop purchasing toxic mortgage securities at the end of this month, rate will go up, and the clock is ticking to lock in a rate you'll probably never see again for a very long time if ever. I say buy now.
What is the reason your dad doesn't advice purchasing a home at low rates and low prices? Buy in low and sell high.
One additional note, a new norm is that the seller pays up to 3% of the buyers closing cost. If you are going with a FHA loan, you might be able to get a home with no money down, no closing cost, at a current low price, with a very low rate. What more can you ask for.
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Wed Mar 03, 2010 4:41 am |
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Creditnet_com
Full Member
Cash: $ 10.65
Posts: 53
Joined: 22 Feb 2010
Location: Seattle, Washington
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Why not talk to your dad in more detail? Sounds like your wife wants to see details, numbers possibly?
How long is vet school (i.e. how long will your wife have no income)? How much is vet school (i.e. how much debt will you accrue while your wife has no income)? How much will she make after she graduates, and what is the demand for vets? Also, how stable is your job at the school?
Without knowing specifics, I'd tell you to hold off on buying a home. I assume you'll be accruing debt with your wife going to school full time. I would wait until you both have regular incomes before signing your name to a mortgage.
Also, keep in mind the potential costs (in addition to mortgage) of being a homeowner. Property taxes, repairs, insurance, yard maintenance, etc. A lot of these expenses you won't need to worry about if you're a renter.
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Wed Mar 03, 2010 6:47 am |
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iwillguide
Preferred Member
Cash: $ 33.00
Posts: 164
Joined: 09 Jun 2009
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| hi friend |
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You are at good place to know anything related to your financial life .This is online .some experts can help you guide right direction if you want help or need information related to money.
payday loan sites | real payday loans
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Fri Mar 05, 2010 9:05 am |
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Stacy26
New Member
Cash: $ 0.80
Posts: 4
Joined: 11 Mar 2010
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To tackle with all your financial problems in future, you should start using some [personal finance tool such as manageme7.com. This would help you combat all your financial worries and manage your finances more wisely
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Thu Mar 11, 2010 12:24 pm |
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