Closing is over and done with for rental house (ie; future retirement income) number 5. Unfortunately this may be our last rental house/future retirement income for a while since the mortgage market has tightened up so much.
CAUTION: THE FOLLOWING PERSONAL COMMENTS MAY ANGER SOME PEOPLE. THEY ARE MY OPINIONS ONLY AND DO NOT NECESSARILY REFLECT THE OPINIONS OF EVERYONE IN CASA DE GALLETTI.
Thanks to all the irresponsible people living beyond their means and purchasing WAY more house than they can actually afford.
Thanks to the house-flippers that don't know what they are doing and didn't account for the fact that the house may not resell for up to 6 months.
Thanks to so many people defaulting on their mortgages because they didn't pay attention to their actual bills and finances before they purchased a house that cost WAY too much.
Thanks to all those people who didn't realize that your mortgage payment is NOT just principle and interest but it includes a payment into an account that the bank has for you (called an escrow account) that is used to pay the taxes and insurance on your house.
Thanks to all those people who didn't factor in the cost of utilities for that 3,000 square foot house when they were working on their budget.
Thanks to all those people who took horrible care of their brand new cars so that once they were finished paying it off they HAD to turn around a buy another NEW one instead of using that money to save for retirement or pay extra on their mortgage.
Thanks to people not planning ahead for a 'rainy day'.
Sorry, but Charles got me fired up about this the other day so I had to finally vent.
2 days ago