Good news on the home front....
 

Seems my not being married is a good thing. Just talked to a loan officer to see about my options. Seems I qualify for an FHA fed insured loan that only requires 3% down.

We had been trying to get the loan in DH2Bs name because I am not working, but because both cars are in his name his debt to income ratio is killing us. And he makes too much money to qualify for FHA loan.

Plus he and his exwife bought a house way back when so he doesn't qualify for first time home buyers credit.

Looks like I may be able to get a house in my name, which makes me feel a ton better about us buying a house because it will be mine and if anything were to happen, it would still be mine.

Waiting to hear back on the legalities of all of this. I need to make sure this is all correct before I jump into a 30 year commitment.

But it is good to know there are other options. I really dont want to be stuck in this house for another year. Not that it is a bad house, but with his DD coming to live with us, there is simply not enough room for 4 people and 2 dogs.

Wow, Legz! That is fantastic news! I didn't think they would do that either. I hope it works out for you guys. With that many people the extra room would be great.

Let us know how it goes. I would be interested in hearing about it. I would love to get a condo or townhouse, something small. While I live with DBF, it would be great for either DDs to use while in college or to rent out as an investment.

Great news, will DH2B still be willing to put money into a house that's not in his name? If so, go for it!!!! Yayyyyyy!!!!:hug:

wow Legz! sounds like some possibilities opening up for you. I hope you find just what you are looking for and that it works out in a timely manner~ http://i17.photobucket.com/albums/b5.../giveheart.gif

IF DH2B was family (but he's not) I'd strongly advise him to have home in both names. I've been married 33 years, don't fear DH turning away, but have always insisted cars and homes be also in my name. If DH2B will be helping with downpayment, mortgage or anything, it is his right. But as we know, we are not related. No one knows the future, I never thought MS.

I hope it works out for you, Legzz.

Since I have been on my own for the past 10 years I'm to the point that I don't want the responsibility (expense) of keeping up a home. I tired it for years after DH passed away but it was just bleeding me dry.

I know many who will say I'm throwing my money away by leasing a home but I don't see it that way. With my fixed income and nothing to fall back on (except my rear end :rolleyes:) renting just makes sense for me.

The tax breaks you can get by owning a home are good. I remember that being my saving grace some tax years. But, I also like the fact that if the A/C konks out I don't have to worry (financially) about having it fixed. :cool:

Good luck! :)

Kitty, you are exactly right. If it was just DD and I, I would not buy a house. I would rent and aparment, or a townhouse where everything is covered and I don'd have to deal with the taxes and yardwork and repairs and maintenance.

I am willing to let DH2B put his name on the deed since he will also be investing money and doing most of the repairs and upkeep. However, I am not willing to do this until after we are married. Until then, I am willing to have it all in my name since I am the one paying the downpayment and all of the costs associated with buying the house. Which I do not mind doing, I mean he has paid all of the bills for the last two years while I fought SSDI.

For now I am just feeling out my options while waiting for the check to come. I am hoping to be able to purchase the one house we both liked before someone else does, but if that doesn't happen, I will keep looking.

Right now I have too much to stress about. DD is turning 7 tomorrow and i have to plan the big family dinner and then next weekend she is having a sleepover which = 4 squeeling girls!:eek:

Kelly - You are right. If you sat down and did a cost analysis, renting can be cheaper. I rented for years for just that reason. Even though I now live with DBF, I still contribute to the household costs and pay rent. It's been a win-win situation for us.

Legz - Good planning. You can always add DH2B to the deed at a later time. It's always good to look at the options available to you.

in todays market renting is a great deal! no taxes, someone else does the repairs, and upkeep, and you get to live in while someone else shovels, mows, and turns the screw driver. Home owner ship is WORK! roofs that need to be replaced, furnaces that need to be serviced, breakers that need to be repaired, and so on.

Im so proud of you Sam! way to go. Enjoy DD while she is 7. its a great age. They still love mom and are interested in what she has to say. They look up to you and want you with them. Soon she will be 14 and you will be full of beans, and she wont want you anywhere near her sleepovers. REally slow down and savor this time.