My DH's drink must have been spiked!

iVillage Member
Registered: 08-19-2003
My DH's drink must have been spiked!
11
Mon, 08-22-2005 - 9:36pm

My husbands dream home is going on the market in about 6 months. In the same neighborhood as we currently live but way nicer house. Its a 5 bedroom colonial, 5 car garage, apartment over the detached garage, and a huge pond in the front yard. Beautiful House, I would love to live there.

A little background we currently have an annual income of $50k-$60k. We owe about $11k on cc's, and have a mortgage at $235k. Our house would sell for about $400k.

So the yahoo I married, calls me at work and asks if we are in good shape to be able to qualify for a mortgage in the $650,000 range. HELLO! What?! Is he nuts! Did he think I was drunk and would say yes? I don't even want to know what the payment on a $650k house would be, but I am sure its way more then we make.

But he is delusional enough that he went to talk to someone tonight about a new job. Something he will dislike but twice what he makes. Even if he get a new job, and I go to work full time in January, its still not enough to cover $650k of debt.

I just have to laugh! Don't worry the new me would not sign on the line for such a ridiculous amount of money!

Shannon


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iVillage Member
Registered: 12-12-2004
Wed, 08-24-2005 - 1:16am
Hey, Shannon :) A 650K mortgage? Hello? The property taxes would be astronomical. We are struggling with $306K ARM that keeps going up each month! So does the interest rate! If we want to pay the minimum, it would be $2000 or so a month, but a 15 -yr, oh, about 3500 per month. Gas/Electric a whopping $215/month. I do know folks who bought $500k houses and are paying $3500/month mortgage, but the DH is retired military, and also works civilian jobs, wife works two jobs, etc. DH is seriously looking at condos. Good article in Money Mag this month about condos, ARMS, etc. The condos are going to be the next RE bubble, I think. Still very expensive. Whiz.

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