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Bailout effects
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<blockquote data-quote="KTMom91" data-source="post: 198969" data-attributes="member: 4040"><p>I bought in 1996, a single parent, with an all right credit score, using a "low income first time buyer" grant through the county. Hubby and I married in 2000, he was laid off in 2002, and we refinanced then, to pull out some money to keep going until one of us could find a job (I'd been a stay at home mom for about 18 months). The estimate was twice what I'd originally paid for the house, but we didn't take that whole amount and we didn't get an ARM, thank goodness. Our house payment is $735/mo, and you can't even rent around here for that. </p><p></p><p>bby, so sorry you got stuck in that mess. Several women I've taught with have lost their homes because of the ARM resetting, and several of our friends have as well.</p></blockquote><p></p>
[QUOTE="KTMom91, post: 198969, member: 4040"] I bought in 1996, a single parent, with an all right credit score, using a "low income first time buyer" grant through the county. Hubby and I married in 2000, he was laid off in 2002, and we refinanced then, to pull out some money to keep going until one of us could find a job (I'd been a stay at home mom for about 18 months). The estimate was twice what I'd originally paid for the house, but we didn't take that whole amount and we didn't get an ARM, thank goodness. Our house payment is $735/mo, and you can't even rent around here for that. bby, so sorry you got stuck in that mess. Several women I've taught with have lost their homes because of the ARM resetting, and several of our friends have as well. [/QUOTE]
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