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They try to keep you on your home.
By looking at my numbers, on a salary of 89k a year, he believes I can keep the home at 2200/mo (mortgage+tax+ins+HOA).
True I have been able to stay current, and true I an fine tune my budget, but I still feel it is tight and I was hoping to hear things such as short sale or even foreclosure.
He states it is worth the effort to maintian my credit score, which is above 700 right now.
Unlike the previous advisor, this one advises against taking a second job because of my situation as single mom, my day care expenses would go up and I need to see my son.
He even believes I don't need to rent a room, he gave me some budgeting guidelines and a list of resources to make it work, even with $300+ being sent to my parents each month. He says my groceries should be around $300 a month, me and my son expenses included.
What do you think? 89k of salary, 2200 of mortgage including ins, tax and HOA?. doable?
In one hand I feel hopeful, maybe I just need to make it work and stay in the house.
In the other hand I still feel 2200 is too much on one salary.
He did recommend I talked to a real state lawyer to take a broeader look at my options.
So
1) will continue working on fine tunig my budget, this will help me now and in the future. And will ensure my son grows up knowing how to control his finances
2) will get an appointment with a real state lawyer and see what are my options for exit strategy, if any.
I just can not believe that eerybody who ws able to get out of their houses had a pristine budget working. So many people has just abandoned their houses or go into foreclosure, how many short sales. Where all those families asked to fine tune their budgets before considering leaving their homes?
I have a lot to think about. you insight is appretiated
By looking at my numbers, on a salary of 89k a year, he believes I can keep the home at 2200/mo (mortgage+tax+ins+HOA).
True I have been able to stay current, and true I an fine tune my budget, but I still feel it is tight and I was hoping to hear things such as short sale or even foreclosure.
He states it is worth the effort to maintian my credit score, which is above 700 right now.
Unlike the previous advisor, this one advises against taking a second job because of my situation as single mom, my day care expenses would go up and I need to see my son.
He even believes I don't need to rent a room, he gave me some budgeting guidelines and a list of resources to make it work, even with $300+ being sent to my parents each month. He says my groceries should be around $300 a month, me and my son expenses included.
What do you think? 89k of salary, 2200 of mortgage including ins, tax and HOA?. doable?
In one hand I feel hopeful, maybe I just need to make it work and stay in the house.
In the other hand I still feel 2200 is too much on one salary.
He did recommend I talked to a real state lawyer to take a broeader look at my options.
So
1) will continue working on fine tunig my budget, this will help me now and in the future. And will ensure my son grows up knowing how to control his finances
2) will get an appointment with a real state lawyer and see what are my options for exit strategy, if any.
I just can not believe that eerybody who ws able to get out of their houses had a pristine budget working. So many people has just abandoned their houses or go into foreclosure, how many short sales. Where all those families asked to fine tune their budgets before considering leaving their homes?
I have a lot to think about. you insight is appretiated
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