Saturday, January 30, 2010

The Name of the Game is Credit

Xan and I have made our decision of whether or not to buy a house. We've decided it is not the best time for us for multiple reasons; the biggest being that we can't find a better place for a better price than where we are now. We also came across quite a few surprises.

Did you know that in order to get a home loan now, you need to have 3 active lines of credit EACH? That's right! In order to get a big debt from the bank, you need to already be in debt... And our country wonders why so many people are deep in debt.

I can understand that those with no or low credit due to lack of credit lines can't prove their ability to pay off loans and use credit. I get that. What I don't understand is how people with bad credit are more trusted than those without credit. To me, it makes sense to simply say, "Well, we can't offer you as big of a loan as these other people with fantastic credit, but we'll still give you some since you haven't messed up your credit either." Apparently the banks don't agree.

I rather would like to write President Obama and say, While you're working on that health reform, how about you work on a credit reform and help people struggling with too much debt be able to stay away from debt by eliminating the need to have MULTIPLE lines of credit. There will always be debt due to education, cars, houses, medical, and other costs but shouldn't we be trying to get Americans out of CONSUMER debt? How are these loan requirements of 3 active lines of credit HELPING?

We live in a society that PENALIZES those who save their money to buy large purchases. It is not impossible to save enough money to be able to buy a good, though used, car by cash as opposed to taking out a loan. It is not impossible to work part-time while going through school and graduate without any student loans (minus lawyers and doctors and a few other career paths). Should we really be penalized for AVOIDING DEBT where possible?

In the mean time, Xan and I are going to have to play the game of "credit" and get those active lines of credit by getting more credit cards. We'll play the game to our advantage though, and simply pay the cards off each month and get the cash and other rewads back. :)

Sunday, January 24, 2010

Something to make you smile

I found this announcement while I was uploading all my photos onto the computer. It is still my favorite that I made. :)

Friday, January 15, 2010

To buy or not to buy?

Xan and I really love the complex we live in now. A lot of our branch and ward friends live here, its an extremely convenient location, great bus access, and lots of paths and trails to follow in the adjacent nature preserve.

But, now is as best time as ever to buy a house. The prices are low, APR's are low, sellers are desperate, and the US government is offering a tax credit.

There really are pros and cons to both sides of the story.

Apartment living:
easy maintenance is just a phone call a way where they pay the bill (unless it was your fault), free snow removal, free heat and NO YARD WORK!

House living: more privacy, private yard for garden and roaming cats, we could make changes like painting walls or changing appliances or lighting fixtures, might have a garage.

So the question gets thrown out there: To buy or not to buy?

Friday, January 1, 2010

"Honey, would you complain if we had this one?"

Xan answers the question that is asked and not the question that I think I may be asking or implying. When Xan and I would go out shopping for apartment things, I was having a hard time finding the right question to get the answer I was looking for. What was wrong with my previous questions?

"What do you think about this dish set?" - If a man doesn't care too much about fashion, he's not thinking about any of them so how can he give you an honest answer other than that he doesn't know.

"Ooh! Look at this one! Do you like this bed cover?" - A man usually doesn't look beyond whether or not the bed cover will fulfill its function. He usually doesn't care whether you pick the blue or the green one. Although, he may shy away from the frilly pink one covered in flowers.

Xan and I finally solved this little tango of me not wanting to buy something he hates and him not really caring enough to know how to answer my questions by coming up with the ultimate question:

Honey, would you complain if we had this one?

Works everytime. :)