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I've pulled off that shop a number of times even though I too am a senior, have owned homes and currently own my present home. It just requires some credible creativity in putting together your scenario.
@Flash wrote:
I've pulled off that shop a number of times even though I too am a senior, have owned homes and currently own my present home. It just requires some credible creativity in putting together your scenario.
Would you say your shopping for your son/daughters first home?
Live consciously....
Heavens no! You know that you can't get loan information for another person. Any banker worth their salt would tell you to have your son/daughter come in to talk with them.
Think of all the reasons why you may have never owned a home (other than financial or creditworthiness reasons) and grow your tale from there.
Think of all the reasons why you may have never owned a home (other than financial or creditworthiness reasons) and grow your tale from there.
Maybe I'll give it a try, hope the banker doesn't catch on. I am nervous, but (as I said above), The instructions do say to act like "Your" buying your first home". I think I'll pass, too much work to (maybe) have them spot me.
Edited 1 time(s). Last edit at 08/26/2016 06:54PM by Irene_L.A..
Live consciously....
Edited 1 time(s). Last edit at 08/26/2016 06:54PM by Irene_L.A..
The only way I would mention a child is if the context was that I had been living with them since their divorce and now that he/she is thinking of remarriage it is time for you to find your own place. You just can not be looking at buying a house for someone else or trying to gather information for them. They want YOU to be the first time purchaser for YOUR home.
@Flash wrote:
The only way I would mention a child is if the context was that I had been living with them since their divorce and now that he/she is thinking of remarriage it is time for you to find your own place. You just can not be looking at buying a house for someone else or trying to gather information for them. They want YOU to be the first time purchaser for YOUR home.
That helps, but I feel everyone this age has owned a home at some point. I'm going to think about it, and see what the MSC says. We have a bunch on the board.
Live consciously....
@Irene_L.A. wrote:
That helps, but I feel everyone this age has owned a home at some point. I'm going to think about it, and see what the MSC says. We have a bunch on the board.
Far from it! For many reasons people do not own homes, never have and never will, for reasons other than creditworthiness or cash. To treat it as otherwise is very narrow minded. Owning a house is NOT a status symbol but rather a matter of convenience.
@Flash wrote:
@Irene_L.A. wrote:
That helps, but I feel everyone this age has owned a home at some point. I'm going to think about it, and see what the MSC says. We have a bunch on the board.
Far from it! For many reasons people do not own homes, never have and never will, for reasons other than creditworthiness or cash. To treat it as otherwise is very narrow minded. Owning a house is NOT a status symbol but rather a matter of convenience.
Just seems odd to me to be buying a house in your 70"s. I am not narrow, but go through my experiences, and having been in the housing market for years, of course, everyone we saw was looking to buy a home. Anyway,
thanks for your input.
Live consciously....
My bank scheduler said they will mail me the way they want it done, age not a problem for them. Looking younger doesn't hurt. I'm doing it with fingers crossed.
Live consciously....
@Irene_L.A.---------->You looking younger already. Keep those finger cross.
Irene, ..your original post made me laugh "I was asked to do a bank job..." sounds like you're in cahoots with Mugsy and the gang!
You mentioned that the bank gave you a scenario to follow, but I just wanted to mention that folks who live in large cities usually rent apartments their whole lives. It wouldn't be unreasonable for them to be buying their first home after retiring.
You mentioned that the bank gave you a scenario to follow, but I just wanted to mention that folks who live in large cities usually rent apartments their whole lives. It wouldn't be unreasonable for them to be buying their first home after retiring.
I have done these as a first time buyer "of a certain age." I just tell them that I was with the Foreign Service (makes sense in the DC region) and was posted overseas so much that when I was back in the US I just rented from fellow FS officers who owned but were deployed at the time. That is a very common practice here.
Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
@walesmaven wrote:
I have done these as a first time buyer "of a certain age." I just tell them that I was with the Foreign Service (makes sense in the DC region) and was posted overseas so much that when I was back in the US I just rented from fellow FS officers who owned but were deployed at the time. That is a very common practice here.
That is funny, I'm not that good of a liar.
Live consciously....
Thanks you guys for my first morning laugh. "Doing a Bank job, looking younger and keeping fingers crossed".
Helps to find the humor in this. I may say I lived with my Mother and took care of her, and she just passed away. I'm now looking to buy a Condo (never to late). How does that sound? Finance wise, and having had been married to a finance guy who always said, makes no sense to rent anything, no write off, no equity buildup. and in the day when homes where inexpensive (we bought our first for 34,000), just seems weird for me to now buy a home.....I should be using the money for travel or botex!!!! Tomorrrow's the big day, the saga continues!!!!
Edited 1 time(s). Last edit at 08/28/2016 03:12PM by Irene_L.A..
Helps to find the humor in this. I may say I lived with my Mother and took care of her, and she just passed away. I'm now looking to buy a Condo (never to late). How does that sound? Finance wise, and having had been married to a finance guy who always said, makes no sense to rent anything, no write off, no equity buildup. and in the day when homes where inexpensive (we bought our first for 34,000), just seems weird for me to now buy a home.....I should be using the money for travel or botex!!!! Tomorrrow's the big day, the saga continues!!!!
Live consciously....
Edited 1 time(s). Last edit at 08/28/2016 03:12PM by Irene_L.A..
Sounds great to me! And it is not at all unusual.
Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
@Irene_L.A.
" I may say I lived with my Mother and took care of her, and she just passed away. I'm now looking to buy a Condo " That's an excellent cover story. Good luck! I'm sure it will go well.
" I may say I lived with my Mother and took care of her, and she just passed away. I'm now looking to buy a Condo " That's an excellent cover story. Good luck! I'm sure it will go well.
Irene - Rather than a Condo, I suggest that you say that you want to buy in a "55+ Community". They resemble condos, but IMHO would make more sense for someone of "a certain age". I am also "youth challenged", and that has worked for me. More believable than buying a 4 bedroom house.
Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008
Yes, I had that in mind, a condo as opposed to a house. Buying a "house" was my worry. We have a beautiful 55+ development in my town. They go under the umbrella of Condo's and are individual like a small home with about 1800 sq. feet, which is perfect (a friend lives there). That would definitely work, they cost 470,000, but with low interest rates could be cheaper than renting. ...great idea, thx. This will work!!
Edited 3 time(s). Last edit at 08/28/2016 09:14PM by Irene_L.A..
Live consciously....
Edited 3 time(s). Last edit at 08/28/2016 09:14PM by Irene_L.A..
We did buy our home which bis our first as seniors. We were both in our 60's , so I think you can do it for real
Condo is a form of ownership, not a style of building. You can own free standing homes, boat slips, offices apartment, townhomes, etc, "in condominium" as the real estate laws put it. Just means that you do not own it "fee simple."
Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
@walesmaven wrote:
Condo is a form of ownership, not a style of building. You can own free standing homes, boat slips, offices apartment, townhomes, etc, "in condominium" as the real estate laws put it. Just means that you do not own it "fee simple."
Yes you own the inside, Homeowners the outside. I hear (tell me if I'm wrong), Townhouses have garage, I have a two car garage in my Townhome, whereas Condo's have a space in bldg.
Live consciously....
I've used the excuse that I've worked most of my life as an engineer in the petroleum industry, working in the middle east countries. Now, I'm thinking of retiring and marrying my longtime partner.
The presence or absence of a garage has NOTHING to do with the form of ownership.
Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
@walesmaven wrote:
The presence or absence of a garage has NOTHING to do with the form of ownership.
I was asking if that makes the difference between a condo and Townhouse. I know ownership is the same.
Live consciously....
No, both apartments (condo or not) may have garages or not; same with town houses!
Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
Shopping from the Carolinas to New York
Have video cam; will travel
Poor customer service? Don't get mad; get video.
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