I have avoided posting news of the house because it seems to change very quickly. I didn't know how to share what was going on without retracting my post and starting over with every little event. I will briefly share the many thoughts and options we've been pondering and end with the latest.
1st- ecstatic, we have a house! We didn't believe we would ever be able to buy a home, due to the massive medical debt and the toll it has taken on Bing's credit rating.
2nd- We were told the income taxes on the house would be more than $100k and we didn't know what we would do. We most likely couldn't get approved for a home loan to pay those taxes and if we could, we probably couldn't afford the monthly payments in combination with all of our other expenses.
3rd- The builders (really wonderful people), offered to buy the house back and build us a less expensive home. By selling, we would have the cash to pay the taxes as well as some of our medical debt and then build something else. We were stuck on this one for a while and were pretty sure this was the solution. It is an awesome solution but not the desire of our hearts.
4th- The appraisal finally came in. The appraiser, knowing our situation, made every effort to appraise the house as low as possible,initially they said it was worth $410,500 but, the final number is...$311,000. Most of the time that isn't a good thing, for us, it means significantly lower taxes and a very, very good possibility that we can finance the taxes and live in our dream home!
That is by no means an extensive list of what has transpired over the last 6 weeks but, the major points are there. Everyday is filled with phone calls, paper work, e-mail, and faxes in order to sort out our debt and apply for financial assistance. We are working hard and praying harder. We are so blessed and we know it!
Subscribe to:
Post Comments (Atom)
6 comments:
I'm happy to be in the loop! Thank you so much for the update, as the crazy road continues.
What is Bing's job with the AHA? Is that what it is called?
Thank you for updating! I have been wondering and praying for you. I am so glad you guys are being guided by such a supportive group of people.
Thank you so much for updating! I was checking every day wondering what was going on and am so glad things are looking good! I am also wondering what the news is with Bing's job or jobs...the facebook updates are not detailed enough! Please fill us in, as it sounds really exciting. Love you!
I sooo want you to be able to move into your energy efficient home. No electric bills in MONTANA.. now that is a dream come true! PS When that B&W pic of Maddox popped up, it made my heart leap out of my chest with love and adoration. He is perfection.
Bing & Lane! God has the perfect solution for all of this! He loves you guys so much and wants for you the very best! So keep plugging along and the very Best will be revealed! I love you guys!
I am so excited that you have options.
Post a Comment