FALLING BETWEEN THE CHAIRS, PART DEUX

Trying to get a loan to install a new boiler in this house ought to be easy. I’ve been paying off as many debts as quickly as anyone on social security can, but apparently not fast enough. Never mind that the money has almost entirely been spent trying to keep the house from falling apart. What I don’t “get” is that this is a zero percent loan. They aren’t even paying out the money. National Grid is paying the money.

Also, It’s not a huge number. At zero percent, it’s easy to pay off. But they have a computer. When it dings, you’re donged.

So I have a choice: find a lender with a soul, or not pay my mortgage until I have saved up enough money, and then pray that the the bank will make a deal. Or we wind up on the street. I’m hoping we won’t wind up in the street because I don’t think we would last long. We’re a little old for that. It’s ironic. We make too much money to get housing assistance, but NOT enough to really afford housing. Once more, we have fallen between the chairs.

There turned out to be a third solution. Refinancing the house. This got a little complicated because we are on a H.A.R.P. program which was one of Obama’s programs to get mortgage rates down and under control. To do that, our existing bank refinanced us at a substantially lower rate (4.8%) and HUD took over $80,000 of the mortgage. It dropped our mortgage payment by almost $1000. This was good because I had cancer at the time and being on the street didn’t seem a practical solution for us.

One wet daylily

In the meantime, thanks to Trump’s astounding management of our economy, mortgage rates have dropped to the lowest they have ever been, at least in my lifetime. We locked in at 3%. That gives us a slightly lower payment even though the new mortgage INCLUDES the $80,000 HUD was holding and gives us enough cash back to pay for the boiler, fix the back door, and maybe replace the toilet in my bathroom. And if we are very lucky, maybe we will have enough to put some cabinets in the kitchen. A girl can dream.

Daylilies

We still have to get through the appraisal, get a couple of pounds of paperwork to Missouri — which is interesting because Missouri just went back into lockdown and everyone is working from home. I hope the appraiser “gets” that we are a home “in progress.” That’s why we need the loan. Meanwhile, we have a tentative go. We couldn’t get a $7000 zero percent loan, but we CAN get a $262,000 mortgage? Does this make any sense to anyone? This is a standard 30-year fixed rate mortgage. If any of you are looking to refinance, this is a good time to do it. We are working with Mutual of Omaha. I decided to go with someone I’ve heard of this time. People who know how to manage a mortgage? At least they’ve been in the mortgage business for 111 years. Some of the people who called us have been in the mortgage business for about as long as a week. Been there. Done that. I didn’t feel like doing it again. They give you a mortgage, then they sell you to someone else in a matter of days and then you get sold again and again until you are dizzy and have no idea to whom to send your payment.

The daylilies and roses are blooming. Now that the feeders are back up, we have flocks of goldfinches and red finches … and very young squirrels.



Categories: Blackstone Valley, Flowers, Money, Photography

Tags: , , , ,

14 replies

  1. I’m on the floor ‘between the chairs’ right along with you. I make about $100 too much to qualify for medical insurance assistance. Yet they still hound me to death about applying for it. I just mentally roll my eyes and toss the notice in my trash bin. I’m $100 too rich. So why does it feel like I’m ten million too poor? I wish I had some of that ten million. I’d share and all.. Take care Marilyn. Something WILL turn up.

    Like

    • Because you ARE millions of dollars too poor. I keep wondering if one of those super rich people (none of whom we personally know) will take pity on us and drop a few mill our way. We could help ourselves AND so many others!

      Like

  2. I clicked “like” on this post, but I don’t like the content. I’m sorry that your financial situation is the way it is, but as you’ve said, you’ve somehow always found a way to survive, and I hope that will be the case once again.

    Like

  3. It shouldn’t be this hard but no, you can’t be homeless, especially not now. Mortgage first and somehow the rest will get worked out.

    Like

    • I also called the contractor to see if there was some way to repair the boiler, keep it running a few more years. It depends on how corroded it is. We are in a COVID 19 setup right now. We have six months where we don’t have to pay the mortgage and at the end of the six months (November), we can get another six months … after which “we work something out.” Frankly, the only people who have been nice to us IS the mortgage bank.

      I suspect they really don’t want to start evicting people. SO many people are out of work, if they throw people out, they’d have millions of empty houses that will just sit there and rot, so mortgage banks are trying really hard to find ways to keep people housed. A massive wave of empty houses won’t help anyone, not even the banks.

      Liked by 1 person

      • No, it’s not like they can sell the houses off even cheaply. They are better off keeping people in their homes. That’s not just being nice, its’ just facts. In some ways Covid 19 has been a good thing financially. There are so many newly unemployed that things have to be done differently. My income has doubled since it started. It will go back to previous level in September so I’m trying to get a few jobs done too.

        Like

  4. The 0% is just for the banks Marilyn. Here you will be paying quite a bit above that to get a loan of any kind.
    Leslie

    Like

  5. Oh, so sorry to hear this. I’d pay the mortgage and figure out another way for the boiler. You cannot afford to lose your house. Protect that by all means. Can AARP be of any help in making suggestions for companies that are kinder to us seniors?

    Like

  6. There are far too many who fall between those particular chairs. Here too.

    Like

Talk to me!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Keep it alive

A look at life, achieving good physical and mental health and happiness

Social artist

Curiosity to Infinity

Story Board

News Stories

Covert Novelist

Just another WordPress site

The Small Dog

Life from the Tail End

Cee's Chronic Illness Sisterhood

Peer support and hope for women with Chronic Illness and their support team.

Salted Caramel

Blogging, Motivation, Lifestyle and much more.

Sue Vincent's Daily Echo

Echoes of Life, Love and Laughter

Sarah's Attic Of Treasures

Making My Home A Haven is important to me. Sharing homemaking skills. Recipes and food. Bible Studies. This is a treasure chest of goodies. So take a seat. Have a glass of tea and enjoy. You will learn all about who I am.

Green Screen

The Environmental Movie Podcast

Crittering

Crittering (noun) - the observation of critters in their natural habitat.

Works by Martha Kennedy

Historical Fiction, Memoir and Paintings

bushboys world

Photos of my world and other stuff I hope you will enjoy too. Photos taken with Canon PowershotSX70HS Photos can be purchased.

musingsofanoldfart

Independent views from someone who offers some historical context

SeanMunger.com

Official Site of Speaker, Historian and Author Sean Munger

The HOBBLEDEHOY

I use the best, I use the rest

This, That, and The Other

Random musings on life, society, and politics.

My Blog

Just another WordPress.com site

I'm a Writer, Yes, I Am!

Martha Ann Kennedy's Blog, Copyright 2013-2020, all rights reserved to the author/artist

National Day Calendar

Fun, unusual and forgotten designations on our calendar.

Cee's Photo Challenges

Teaching the art of composition for photography.

Trent's World (the Blog)

Random Ramblings and Reviews from Trent P. McDonald

Views from the Edge

To See More Clearly

serial monography: forgottenman's ruminations

wandering discourse, pedantic rant, self-indulgent drivel, languorous polemic, grammarian's bête noire, poesy encroachment approaching bombast, unintended subtext in otherwise intentional context, unorthodox unorthodoxy, self-inflected rodomontade, …

draliman on life

Because sometimes life just makes you stop and think

The English Professor at Large

Posts about old Hollywood, current concerns

sparksfromacombustiblemind

EMBERS FROM SOMEONE DOGGEDLY TRYING TO MAKE SENSE OF IT ALL...

The Day After

Musings, Photography, Writing, and More

THE SHINBONE STAR

NO LONGER ENCUMBERED BY ANY SENSE OF FAIR PLAY, EX-JOURNALISTS RETURN TO ACTIVE DUTY TO FIGHT THE TRUMPIAN MENACE!

Chronicles of an Anglo Swiss

Welcome to the Anglo Swiss World

%d bloggers like this: