Saturday, June 23, 2012

finding some homeland

So what finally happened? Well, not a mortgage, that's for sure.

We went to a couple of banks. The first - mine - was receptive to financing about 50% of the purchase of "The Boneyard" but said we would have to provide a library full of documents.

The Credit Union - which neither of us bank at - was more promising, saying it would finance up to 65% of the land purchase, but the fact we were each paying $875/month in rent was a problem. We'd have to wait a weekend to find out whether that was going to be an obstacle. Never mind that by buying the land $875/month would be available for loan payments - the rent had to be included on the application.

Ultimately, the Credit Union said no and pointed to our extreme living expenses as the reason.

So the South African Hottie took a significant portion of his savings and used it to buy the land directly. On the 18th of this month, the transfer was complete. He/we are now proud owners of a 10-acre field.


We're moving out of our rental in a week. My next entry will explain just what it is we're moving into.

It ain't pretty.

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