I just hope they're learning a few things along the way. I mean, getting an interest only loan should suck enough to make you REALLY wary of making stupid financial mistakes. Yet....she does it again. Selfishness, coveting, discontentment, keeping up with the Jones's, believing the lie that you're so special that "you deserve it!" All of these wrong attitudes (that we're all susceptible to, including me), created this situation.
@@mrsmerily For some people, yes. Not everyone is cut out to be a homeowner. More and more in the twenty-first century, renting makes more sense than ownership because we have to chase after jobs frequently, situations change and the idea of settling down for 30 or more years is unrealistic. The landlord takes care of all the headaches that many people just don't or can't want.
I like how she said: We ONLY had to bring $25,600 to sell the house.... That sucks that she made payments for 5 yrs and still had to end up paying over 25k in the end just to get rid of the house. What a bad investment. Probably would've been better if she rented it out?
Autumn, I agree. I really didn't like the new house all that much. Especially not to take a 25k loss. And yes, they probably could have rented it out for a few years and wait for the market in that area to improve.
Yeah. Given the situation she was in with that bad loan, they probably should have made it work in the existing house. One child doesn't suck up all of the space in a 1,800 sqft house.
They do seem super sweet, but if you have to borrow money to bring to the table then you can't afford to buy another house. Why didn't they refinance the one they had? They would still have to bring closing costs plus the difference between what they owed and what it appraised at, but that would be much cheaper than selling it. I know that the other one was pretty, but we can't have every pretty thing we want.
That's what I was screeeaaaming at the TV. I know the other one is new and cool or whatever, but wouldn't you rather put all the money you could have saved towards your daughter's future? This makes no sense at all. They actually make things worse for themselves.
I have never heard of this what a ripe off , that loan toke this lady to the cleaners. Paying 25,000 to sell a house is unthinkable. You are suppost make extra money, not pay to clear the loan. That loan should be against the law.
If you can only pay the interest you have no business buying the house. I can't believe banks allow that for 5 years and borrowers are ok with gaining no equity
I don't mind an empty house. I can visualize MY personal things there as well as see the actual rooms size and know whether it will be a good fit for me. When it's staged, it sort of distracts my visualization, on the PRO side, I get some great design ideas!
Vanessa Thomas me too! It’s called VISION! Imagination works if one uses it! Half the time I’m screaming at the tv when the whiners start saying REALLY STUPID things like oh that’s not a good color, oh carpet that won’t do, if the bones are there one can do anything! Egads idiocy abounds!
Do the landscaping yourself, paint the fireplace surround a calming color, and rent some furniture. People think they need to pay someone for help, go to some open houses and watch some design how to's.......then your all set!
I feel her pain. Don't ever rent your home while it is for sale!!! We tried this and the renter's husband caught her cheating and tore our home apart, in spite of signing a contract to make no changes she took the walls out, floors, tub. farm sinks, water heater, electrical wiring. Everything was stripped plus door kicked in and never fit again correctly on the hinges. Never could get her or her crazy husband served with the warrants to pay for the damages because they left town.
I wish I had their problems. I live in a dilapidated Victorian, and I can't sell it as it has a $50,000 tax lien on it, which I can't afford to pay. The house has become a prison to me.
+Christian Djami This is kind of a complicated answer and I can't say for sure whether or not this is why they are selling, but under the United States tax code you don't have to recognize the first $500,000 (for married couples) of gain on the sale of a home, provided that you have lived in the house for 2 out of the last 5 years.
***** Well probably they lived in far away suburban without great value to be rented. In my place any vacant space would be rented that our neighborhood turned from a colonial house row into small shops that being constructed in front of the lawn (because no one actually using lawn here).
No. People just think that it's a good idea to buy a new house when they still owe loads of money on their old one. Just stick with the house a couple more years and pay it off. Pay more money every month. Minimum payments don't do any good.
They got an offer. how is that insulting AND especially after 1 year of NOTHING. they still could have been at another 6 months and no offers. would that have been insulting??? their problems are not the new buyer's problems..........
She was only paying off on the interest, which is attractive as the payment is low, but in the end none of the principal was paid so she was still stuck with the original amount. Sucks when you don't have a good adviser when purchasing a home.
My mom was a broker so I know a little, but the bottom lines are immaturity, inexperience, no decent business/money sense, no wisdom and IMPATIENCE! They COULD have tried re-financing to start, they COULD have rented it out to offset expenses, or they COULD have stayed in it to gain rather than lose. You HAVE to RESEARCH or PAY A PROFESSIONAL and even then there is headaches from lack of knowledge.
$1100 for glamorizing is less than one month's payment. A no brainer. But then they're happy about a 25k loss. So one wonders where the brains were to start with. Those tiny repairs are knit picking. The buyer screwed them to start with, so they should pay for it.
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Mary the realtor did an excellent job.
Thier little Girl is Simply Adorable!
Oh beautiful couple!!! The DH is stunning cute
Beautiful couple.. hope they recover loss soon
I just hope they're learning a few things along the way. I mean, getting an interest only loan should suck enough to make you REALLY wary of making stupid financial mistakes. Yet....she does it again. Selfishness, coveting, discontentment, keeping up with the Jones's, believing the lie that you're so special that "you deserve it!" All of these wrong attitudes (that we're all susceptible to, including me), created this situation.
well you need to live somewhere. Paying rent for ever and ending up with nothing is better then?
@@mrsmerily For some people, yes. Not everyone is cut out to be a homeowner. More and more in the twenty-first century, renting makes more sense than ownership because we have to chase after jobs frequently, situations change and the idea of settling down for 30 or more years is unrealistic. The landlord takes care of all the headaches that many people just don't or can't want.
Both homes are lovely!!!! Great episode.
"The house stopped working for me when we got married"?
Well, if 2 people can't fit in THAT house. Did they not come from these tiny European ones?
Really. 1800 sq ft???? Living beyond their means is a big cause of this problem. That and short sighted decisions like a interest only loan.
That was totally confusing.
I like how she said: We ONLY had to bring $25,600 to sell the house.... That sucks that she made payments for 5 yrs and still had to end up paying over 25k in the end just to get rid of the house. What a bad investment. Probably would've been better if she rented it out?
I would have just stayed in the original one.
The new one looks tacky. This was such a waste of money.
Autumn, I agree. I really didn't like the new house all that much. Especially not to take a 25k loss. And yes, they probably could have rented it out for a few years and wait for the market in that area to improve.
s lu yes that's what I was thinking, why not rent it out and let it pay for it's self
She didn't make payments for 5 years. She did an interest only loan - I can't believe a bank would let you do that for 5 years
So she bought a house, paid a mortgage for 5 years and had to pay to get rid of it.
need a bigger home because they now have
need a bigger home because they now have ONE child. Spoiled fools
Yeah. Given the situation she was in with that bad loan, they probably should have made it work in the existing house. One child doesn't suck up all of the space in a 1,800 sqft house.
OJay88 totally immature and bad business because zero patience zero wisdom. I concur!
Yes
They do seem super sweet, but if you have to borrow money to bring to the table then you can't afford to buy another house. Why didn't they refinance the one they had? They would still have to bring closing costs plus the difference between what they owed and what it appraised at, but that would be much cheaper than selling it. I know that the other one was pretty, but we can't have every pretty thing we want.
because they're idiots. They don't get it!
That's what I was screeeaaaming at the TV.
I know the other one is new and cool or whatever, but wouldn't you rather put all the money you could have saved towards your daughter's future?
This makes no sense at all. They actually make things worse for themselves.
They didn’t do an interest only Loan for the second house, didn’t overpay, and have a lower mortgage.
I have never heard of this what a ripe off , that loan toke this lady to the cleaners. Paying 25,000 to sell a house is unthinkable. You are suppost make extra money, not pay to clear the loan. That loan should be against the law.
Interest only !!! Ouch ! These mortgages are not popular here in the UK
If you can only pay the interest you have no business buying the house. I can't believe banks allow that for 5 years and borrowers are ok with gaining no equity
I don't mind an empty house. I can visualize MY personal things there as well as see the actual rooms size and know whether it will be a good fit for me. When it's staged, it sort of distracts my visualization, on the PRO side, I get some great design ideas!
Vanessa Thomas me too! It’s called VISION! Imagination works if one uses it! Half the time I’m screaming at the tv when the whiners start saying REALLY STUPID things like oh that’s not a good color, oh carpet that won’t do, if the bones are there one can do anything! Egads idiocy abounds!
I love an empty house! I can clearly see it for what it is with no distractions, hidden faults and an accurate sense of room sizes.
I"m surprised that nobody ( realtors) said anything about rent it!!!! :( They lost a LOT of $$$$!!!!!
The realtors wanted the comi$$ion from the sale. Only looking out for themselves.
100% agreed with you. After all those years, because of the house buying deal; she got ripped off. As if she and her husband never paid a dime. Sad!
Most people wouldn’t consider $168k to $158k to be a lowball offer. No seller would like it but it’s not lowball insulting.
Exceptional home Reno. I prefer more wood. This is cute for a newly wed couple.
Do the landscaping yourself, paint the fireplace surround a calming color, and rent some furniture. People think they need to pay someone for help, go to some open houses and watch some design how to's.......then your all set!
It's a beautiful house. Too bad they were made to feel they had to rid it.
I feel her pain. Don't ever rent your home while it is for sale!!! We tried this and the renter's husband caught her cheating and tore our home apart, in spite of signing a contract to make no changes she took the walls out, floors, tub. farm sinks, water heater, electrical wiring. Everything was stripped plus door kicked in and never fit again correctly on the hinges. Never could get her or her crazy husband served with the warrants to pay for the damages because they left town.
I wish I had their problems. I live in a dilapidated Victorian, and I can't sell it as it has a $50,000 tax lien on it, which I can't afford to pay. The house has become a prison to me.
LucilleB do you need a roommate? 😁
По крайней мере у вас есть дом...
Unbelievable that the last realtor didn't have them discard the doghouse. That's the first thing that needed to go and so easy.
Very bad financial decisions. They should have stayed in the original house for at least five years to get some equity.
He could get a real job. That would help.
Uau, I feel sorry for you guys, mortgage sucks. You sell a house and still loses mony after paying 5 years of morgage?
how much did they lose ?
I don’t feel sorry for monumentally stupid people!!! Impatient, immature, no wisdom.
I wonder how she got sucked into getting an interest only loan? Terrible idea.
Why don't just rent the house? Are American just left their unused houses idle or they are not allowed to rent it?
Renting is definitely an option. I'm surprised they did not consider it. Perhaps because she had such a terrible, interest only loan?
+Christian Djami This is kind of a complicated answer and I can't say for sure whether or not this is why they are selling, but under the United States tax code you don't have to recognize the first $500,000 (for married couples) of gain on the sale of a home, provided that you have lived in the house for 2 out of the last 5 years.
Jake McNeil US taxes are so complicating lol
***** Well probably they lived in far away suburban without great value to be rented. In my place any vacant space would be rented that our neighborhood turned from a colonial house row into small shops that being constructed in front of the lawn (because no one actually using lawn here).
No. People just think that it's a good idea to buy a new house when they still owe loads of money on their old one.
Just stick with the house a couple more years and pay it off. Pay more money every month. Minimum payments don't do any good.
Rent it!
They got an offer. how is that insulting AND especially after 1 year of NOTHING. they still could have been at another 6 months and no offers. would that have been insulting??? their problems are not the new buyer's problems..........
They bought the house for 179.000 and pay the mortgage for five years and still need to bring 25.000$ to the table I don't understand !
Nada Mehdi --maybe she could not pay it for long time...weird they bought a house having that big debt..no smart at all
She was only paying off on the interest, which is attractive as the payment is low, but in the end none of the principal was paid so she was still stuck with the original amount. Sucks when you don't have a good adviser when purchasing a home.
My mom was a broker so I know a little, but the bottom lines are immaturity, inexperience, no decent business/money sense, no wisdom and IMPATIENCE! They COULD have tried re-financing to start, they COULD have rented it out to offset expenses, or they COULD have stayed in it to gain rather than lose. You HAVE to RESEARCH or PAY A PROFESSIONAL and even then there is headaches from lack of knowledge.
$1100 for glamorizing is less than one month's payment. A no brainer. But then they're happy about a 25k loss. So one wonders where the brains were to start with. Those tiny repairs are knit picking. The buyer screwed them to start with, so they should pay for it.
No offer is "insulting". It's business. Just deal with it. Nix the emotionality.
The realtor works for free?
+TL Pricescope No she charged $8000