When my husband decided to be a police officer, nearly eight years ago, he took a rather large paycut. It was a conscious decision, one that we didn't take lightly, but we took in the best interest of our family.
When we took that paycut, we obviously looked at our bills and our expenses and also took cuts. One of those decisions was to sell the house we were in, buy a smaller one close to where he worked. This not only lowered the amount that we owed on our mortgage, but also made it so that his old truck could make it a few more years.
Here's where my frustration lies. When we sold our first house, as soon as our lender found out that we were downsizing, she offered to find us a loan to refinance that house so that we could stay. No problem, she says, I can keep you in that house.
No, thank you, I said.
Yes, I understand that your corporation is willing to lend us the money. Yes, I understand that we qualify for the loan. Yes, I'm sure that you have some 5-year ARMs are really great products. Yes, thank you, but I've looked at my budget and what I feel comfortable spending each month based on the salary that my husband has and I'd feel happier with a smaller house and a smaller mortgage.
Oh, you mean I deserve a bigger house? Oh, you mean I can just tell you an amount of money that my husband makes that may or may not be true? Oh. Um. Yeah.
Could I please just have the loan that I asked for on the smaller more affordable house? Yes, thank you.
I remember this conversation so well. Clearly. And I'm frustrated. Because I don't even get so much as a thank you note from the government.
Dear Fiveberries in Texas:
Thank you so much for paying your mortgage on time every month. Thank you for not taking an ARM loan that you couldn't afford when the interest rate adjusted. Thank you for not taking on a mortgage that you knew full well would stretch your family's budget too thin.
Thanks for not asking us to bail you out. Thanks for not demanding the government help you out of the predicament that you put yourself in. Thanks for not involving us in an agreement that you made with a private corporation that you'd pay them back the money you owed them.