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The Meme not a Meme Thread Part DEUX

You New Zealanders are starting to weird me out... all this strange stuff and then throw in a jar of peanut butter to the mix.. I’m thinking I hear banjos playing now! Lol
 
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I got caught in this trap back in 1985, after I lost my first house to my failed law practice. I was renting a house for $450 per month, earning $35K as a truck driver, household income of $50K. Next door neighbor was paying $110 per month on a subsidized mortgage for low income households. I made too much to qualify. Applied for a conventional mortgage, but without a 20% down payment, I didn't qualify, because my income wasn't salaried.

Years later I played the system to my favor. Big salary at the end of my corporate career. Bought the current house on 5% down. Lost my corporate job three years later, went back to driving a truck. I would never have qualified for the mortgage on that income, but I never had a late payment. I have 12 payments left on the current 3.5% mortgage. To buy the place today would take a 20% down payment, and $3500 a month mortgage.
 
And let's not forget the required mortgage insurance premium for people that can't put down 20%.
 
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