Bushie: The Final Frontier - Update Season V

[Paul Kemp]

Alright, alright.

Part of the plan, about 25%, is to get a job as soon as possible, but to make it as low key as possible.  I don't want my realtor and bank to get word and cancel the short sale of the house because there is no longer a perceived hardship. 

The other 75% of the plan is that I am also going to check on a vo-tech program and see if I can get a spring class (doubtful), or if I would start in June (summer) or August (fall).  The plan is to base my employment around my class, or get a job that I can flex my schedule in a way that would allow me to go to school.  So, I'm kind of in a balancing pattern.  I also plan to get out of my parents house within 6-9 months into my Grandmother's rent house if and when it becomes available right next to her house, so I can be by myself, but still able to take care of my grandma as she will be 87 in April.  I lived in that house from 2005-2008 save for the 2006-2007 school year where I was finishing up my bachelor's degree.

As far as the vo-tech program is concerned, I've got a career path in mind (Hotel management), so I am checking to see where I can go for that and when it would start so I can plan my employment around that.  If I can get an online program, then, obviously, I can fit my school around my working hours as most online classes are available 24/7, from what I know about them.  I haven't taken an online class since the Summer of 2004, so I could be a little rusty, but still.

I see nothing about your health, weight, and fitness in this "plan."

[memphis]

Just let the damn house house go. It may hurt your pride, but it's far and away your best option. My dad walked away from his house in 2007, and it hasn't made that much difference to him. Who needs the hassle of maintenance? You can get a secured credit card pretty easily and start to rebuild your life. You don't need to be buying another house for the foreseeable future anyway. Home ownership demands far more responsibility than you've shown. You've been unable to hold a minimum wage job for mre than a few months. Why on earth would you think that you can be a home owner? That's life signing up for differential equations when you can't pass Algebra I. And why would you want to. Stay at home. Get a job. Save some cash for the future.  And pay your parents back as much as you can.

[DemPGH]

Godsakes, I'm reading this thing now.

Yeah, I was wondering what today's eating consisted of unless it was posted - I don't see it. Taking ownership over the physical fitness is a huge part of this. It's part of the defeatism, IMO.

I don't know what's meant by vo-tech. Around here that's something you have as an option in high school. Maybe Bushie means a trade school, which might not be a bad idea. Actually, if anything would work for long-term employment, that might be it.

What about working in a library? That's really not hard.

[Joe Biden 2020]

Just let the damn house house go. It may hurt your pride, but it's far and away your best option. My dad walked away from his house in 2007, and it hasn't made that much difference to him. Who needs the hassle of maintenance? You can get a secured credit card pretty easily and start to rebuild your life. You don't need to be buying another house for the foreseeable future anyway. Home ownership demands far more responsibility than you've shown. You've been unable to hold a minimum wage job for mre than a few months. Why on earth would you think that you can be a home owner? That's life signing up for differential equations when you can't pass Algebra I. And why would you want to. Stay at home. Get a job. Save some cash for the future.  And pay your parents back as much as you can.

Like I said, I don't want to buy a house for several years.  But, I would like to rent an apartment, buy a car when I need to, etc.  Having the bank foreclose on me would ruin all that.

[Joe Biden 2020]

Godsakes, I'm reading this thing now.

Yeah, I was wondering what today's eating consisted of unless it was posted - I don't see it. Taking ownership over the physical fitness is a huge part of this. It's part of the defeatism, IMO.

I don't know what's meant by vo-tech. Around here that's something you have as an option in high school. Maybe Bushie means a trade school, which might not be a bad idea. Actually, if anything would work for long-term employment, that might be it.

What about working in a library? That's really not hard.

Vo-tech is the same for trade school, at least around here.

[Queen Mum Inks.LWC]

Just let the damn house house go. It may hurt your pride, but it's far and away your best option. My dad walked away from his house in 2007, and it hasn't made that much difference to him. Who needs the hassle of maintenance? You can get a secured credit card pretty easily and start to rebuild your life. You don't need to be buying another house for the foreseeable future anyway. Home ownership demands far more responsibility than you've shown. You've been unable to hold a minimum wage job for mre than a few months. Why on earth would you think that you can be a home owner? That's life signing up for differential equations when you can't pass Algebra I. And why would you want to. Stay at home. Get a job. Save some cash for the future.  And pay your parents back as much as you can.

Like I said, I don't want to buy a house for several years.  But, I would like to rent an apartment, buy a car when I need to, etc.  Having the bank foreclose on me would ruin all that.

Do you know what your credit score is?

[Joe Biden 2020]

Just let the damn house house go. It may hurt your pride, but it's far and away your best option. My dad walked away from his house in 2007, and it hasn't made that much difference to him. Who needs the hassle of maintenance? You can get a secured credit card pretty easily and start to rebuild your life. You don't need to be buying another house for the foreseeable future anyway. Home ownership demands far more responsibility than you've shown. You've been unable to hold a minimum wage job for mre than a few months. Why on earth would you think that you can be a home owner? That's life signing up for differential equations when you can't pass Algebra I. And why would you want to. Stay at home. Get a job. Save some cash for the future.  And pay your parents back as much as you can.

Like I said, I don't want to buy a house for several years.  But, I would like to rent an apartment, buy a car when I need to, etc.  Having the bank foreclose on me would ruin all that.

Do you know what your credit score is?

I know the general range it is in, yes.

I don't care to share it, but its actually pretty good.  Not perfect, but pretty high.

[Queen Mum Inks.LWC]

No - I don't want you to share it.  I want to know if you know what it is.  And what does "general range" mean?  What's your margin of error here?  And are we talking FICO score, I'm assuming?

[Joe Biden 2020]

No - I don't want you to share it.  I want to know if you know what it is.  And what does "general range" mean?  What's your margin of error here?  And are we talking FICO score, I'm assuming?

10 points.  Yes, FICO.

[Fmr. Pres. Duke]

Your realtor told you that you lost your job via the rejection of a two week notice? That's odd.

My advice still stands. Just let the house go. Going through this short sale process sounds like it is more trouble than its worth. My advice is still to find a job and stay in the house till you can sell it on the open market. Any other option will just rip your credit score apart. I am sure a short sale will be more than a little ding for 1-2 years.

Is the market in OK really bad? Even if you list it at a really low price? Since you bought it at the height of the bubble in 2007, I expect you will not make any gains anyway.

[Sbane]

Bushie should have just rented out the damn place. Ugh!

[Joe Biden 2020]

Your realtor told you that you lost your job via the rejection of a two week notice? That's odd.

No, I told my realtor that I lost my job via the rejection of a two week notice

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A lot of people who know my situation say it will be a small, short-lived damage as I haven't missed a single payment and I have never asked for any kind of payment extension or anything like that.

I bought it in August 2009 during that $8,000 First Time Homebuyer Tax Credit program.  The market in Oklahoma isn't bad, but I just have fears of it taking forever and a day for it to sell.

[Fmr. Pres. Duke]

Oh, jeez, that was close to the bottom of the market, so maybe you do stand a chance. If you want to sell the damn thing, just price it as low as you financially are able to and try to avoid a short sale. I just asked this question to a friend of mine who's parents are big real estate agents on Kiawah, and she told me that a short sale is just as harmful to your credit score - it really doesn't make a difference if its a foreclosure, short sale or a deed in lieu of foreclosure.

Here are his credentials: http://www.kiawahisland.com/real-estate/agent/

My advice is to find a job, price your house as low as you can possibly price it, and sell it that way. It sounds like your agent is just trying to make a quick buck. You're a gullible guy, but you cannot trust all real estate agents.

[CLARENCE 2015!]

ABsolutely... Duke's advice is the way to go. Price it at 70% of appraised value if need be assuming that covers the mortgage... sell it, pay off the mortgage- all while earning income from being employed

You are a good person- your commitment to charity and serving other is admirable, but your failure to see the facts here is affecting others- your parents more then any one... and your failure to recognize THAT to me seems willful   

[Queen Mum Inks.LWC]

No - I don't want you to share it.  I want to know if you know what it is.  And what does "general range" mean?  What's your margin of error here?  And are we talking FICO score, I'm assuming?

10 points.  Yes, FICO.

Which credit bureau is the number that you know from?

[Joe Biden 2020]

No - I don't want you to share it.  I want to know if you know what it is.  And what does "general range" mean?  What's your margin of error here?  And are we talking FICO score, I'm assuming?

10 points.  Yes, FICO.

Which credit bureau is the number that you know from?

All three.

[memphis]

Just let the damn house house go. It may hurt your pride, but it's far and away your best option. My dad walked away from his house in 2007, and it hasn't made that much difference to him. Who needs the hassle of maintenance? You can get a secured credit card pretty easily and start to rebuild your life. You don't need to be buying another house for the foreseeable future anyway. Home ownership demands far more responsibility than you've shown. You've been unable to hold a minimum wage job for mre than a few months. Why on earth would you think that you can be a home owner? That's life signing up for differential equations when you can't pass Algebra I. And why would you want to. Stay at home. Get a job. Save some cash for the future.  And pay your parents back as much as you can.

Like I said, I don't want to buy a house for several years.  But, I would like to rent an apartment, buy a car when I need to, etc.  Having the bank foreclose on me would ruin all that.

My dad rented an apartment and bought a car very soon after his foreclosure. People foreclose all the time. Especially lately. It doesn't mean that you can't do anything. Do you think foreclosed people are all homeless because they can't get apartments? Your chronic lack of employment would be a much bigger issue with a landlord that the impact of a foreclosure.  You may have to pay a higher interest rate on a car, but that's still cheaper than making two additional mortgage payments. But your car is a 2006, IIRC. You have no business getting another car for many more years anyway. Don't you get it? You're 100% destitute. You have nothing. And I say that not to be ugly, but because I don't think you comprehend the severity of the crisis you're living. This is what rock bottom looks like. The next stop is under a bridge. So get your head out of your Inks and do something about it.

[Queen Mum Inks.LWC]

No - I don't want you to share it.  I want to know if you know what it is.  And what does "general range" mean?  What's your margin of error here?  And are we talking FICO score, I'm assuming?

10 points.  Yes, FICO.

Which credit bureau is the number that you know from?

All three.

And all three were the same number?  When did you see your credit score from all three bureaus?

[Torie]

Didn't Torie say that the short sale was unnecessary or something?  I don't remember the particulars of that argument, but it sounded like he knew what he was talking about.  Perhaps he can refresh my memory?

I think he said he should just let it go into foreclosure.  The problem with that is that it can have a harsher impact than a short sale does on your credit and ability to buy a home later.  I don't know Jeff's credit information, but if it's already terrible, it probably doesn't make much of a difference.

The smart thing would be to talk to a financial planner or someone he knows at church who can sit down with him and look at everything and give him some advice better than people on the Internet trying to fly blind (or practically blind, since who knows what he's not telling us).

The house is a cash drain on his parents, who obviously are tight on cash themselves (sure, maybe we are only talking about 5K here, if the lender proactively processes the short sale (a big assumption), but in Jeff's world that is a lot of money. Jeff's credit rating is the least of his problems. And in general, creditors understand walking away from houses with negative equity. It's done all the time. Jeff has no ability to borrow anyway, other than with his existing credit cards with a horrific interest rate. He needs to get them paid off as a more pressing matter by far than his credit rating. He also given his unstable situation, and no money to make a down payment, should not be buying a house in the foreseeable future.

Owning a home is much overrated in Oklahoma, where the appreciation potential is so low (cheap and endless flat land, and lax zoning), unless you are making an interest rate play, and get a fixed interest mortgage at 3.5% or so thanks to government involvement (yes, that is another area where I am a welfare queen of the government), in hopes interest rates shoot up two or three years out, and you can arbitrage. But to make substantive money on that, it needs to be a long term hold, like 15 years, or better the entire 30 year period.

I play these games. Jeff is in no position to do so. I stand by my advice. Stop paying anything on the house, and do it immediately. It is the right advice. And like all of my other advice, as well as others, it will be assiduously ignored by Jeff. As long as his parents bail him out from his own self destructive self absorption, he doesn't give a heck, and it appears he never will. He is hard wired on this. He will need to hit bottom for there to be much hope of a course correction.

Jeff lives in a dream world - a fantasy world, where if only you wish, oh wish upon a star, all your dreams will become true. I have another way of making my dreams come true (well some of them, not ones like having a 30 year old body with a 60 year old brain), and wishing is not a part of the equation.

[Joe Biden 2020]

No - I don't want you to share it.  I want to know if you know what it is.  And what does "general range" mean?  What's your margin of error here?  And are we talking FICO score, I'm assuming?

10 points.  Yes, FICO.

Which credit bureau is the number that you know from?

All three.

And all three were the same number?  When did you see your credit score from all three bureaus?

Within about 20 points of each other as of a couple months ago.

[Queen Mum Inks.LWC]

No - I don't want you to share it.  I want to know if you know what it is.  And what does "general range" mean?  What's your margin of error here?  And are we talking FICO score, I'm assuming?

10 points.  Yes, FICO.

Which credit bureau is the number that you know from?

All three.

And all three were the same number?  When did you see your credit score from all three bureaus?

Within about 20 points of each other as of a couple months ago.

And where did you get the numbers from?

[Torie]

Oh, jeez, that was close to the bottom of the market, so maybe you do stand a chance. If you want to sell the damn thing, just price it as low as you financially are able to and try to avoid a short sale. I just asked this question to a friend of mine who's parents are big real estate agents on Kiawah, and she told me that a short sale is just as harmful to your credit score - it really doesn't make a difference if its a foreclosure, short sale or a deed in lieu of foreclosure.

Here are his credentials: http://www.kiawahisland.com/real-estate/agent/

My advice is to find a job, price your house as low as you can possibly price it, and sell it that way. It sounds like your agent is just trying to make a quick buck. You're a gullible guy, but you cannot trust all real estate agents.

The house is under water. It has negative equity Dukie. I looked it up. It will not sell absent a short sale, and given commissions and closing costs, plus the damage, the lender will be lucky if it can hold its losses to 10K.

[CLARENCE 2015!]

Torie's advice is sound...I just built houses- never sold them ;-)

[Fmr. Pres. Duke]

Oh, jeez, that was close to the bottom of the market, so maybe you do stand a chance. If you want to sell the damn thing, just price it as low as you financially are able to and try to avoid a short sale. I just asked this question to a friend of mine who's parents are big real estate agents on Kiawah, and she told me that a short sale is just as harmful to your credit score - it really doesn't make a difference if its a foreclosure, short sale or a deed in lieu of foreclosure.

Here are his credentials: http://www.kiawahisland.com/real-estate/agent/

My advice is to find a job, price your house as low as you can possibly price it, and sell it that way. It sounds like your agent is just trying to make a quick buck. You're a gullible guy, but you cannot trust all real estate agents.

The house is under water. It has negative equity Dukie. I looked it up. It will not sell absent a short sale, and given commissions and closing costs, plus the damage, the lender will be lucky if it can hold its losses to 10K.

If it's under water, then he needs to simply walk away. It won't have any bigger an impact on his credit score than a short sale. If his agent told him it will just be a little ding, he is being played yet again.  

[Torie]

Just for the record, Jeff admitted it would be a short sale. He knew I had him on this one, and thus lying was not an option.