declined for a mortgage

iVillage Member
Registered: 04-21-2004
declined for a mortgage
4
Thu, 01-13-2005 - 8:49am

well, hubby and I applied for our first mortgage yesterday and where declined. I knew we were going to be, but I was hoping against hope. To be honest, I am not that upset. We both had the sinking feeling that we couldn't afford a house with all this debt anyway. So, we have 2 more months in this house and then we will most likely move in with my parents for a few months (we have a 2 year old as well)they are being incredibly generous and allowing us two rooms. one bedroom (since dd still sleeps in the same room as us! her own bed, but in our room.. long story..)and a playroom for dd. I know that we can knock out most of our debt before march, and I know with just two months of rent free living, we can make a huge difference. I actually feel like we are doing the right thing for once. When we buy a house, we are going to be debt free except for possibly the car loan. I feel like we are finally taking responsibility, no matter how hard it is.

we are selling more stuff this week, on amazon, ebay and also taking a big trailer full of stuff to the auction house. Hubby is also selling his tools and our gigantic lawn tractor(which we paid 1100 on a credit card for!!!!). we don't need this junk, so we are finally getting rid of it all.

wish me luck!

kel

iVillage Member
Registered: 04-22-2003
Thu, 01-13-2005 - 9:13am

Good luck!

I did the same thing, but I haven't applied for a mortgage. I just wanted to save up and pay off bills so I moved back in with my parents with my 2 furbabies.
It may not be wonderful all the time, but I just think of the bling bling and that sets me straight!

cheers,
slojuly

iVillage Member
Registered: 03-27-2003
Thu, 01-13-2005 - 10:21am
Good luck Kel! Dh and I bit the bullet and moved in with my parents (we also have a DS who was anewborn at the time he is now 5.5 months old). It hasn't been that bad and we are getting the debt down.
Kiki
Running Woman
Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 01-13-2005 - 10:38am
Kel - this is a tremendous opportunity to get rid of that debt once and for all.

All my best,
Danni

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Thu, 01-13-2005 - 11:15am

Good luck to you.

I know it feels like a step backwards. However, you will be able to decrease your debt. Hang in there, girl.

Keep saying to yourself, it's part of the mission. (Mission: to get out of debt.)

mym