Page walked into her bank and saw the big sign that stated "It's a great time to buy a home!" Is this possible for me? Yes, Page, not only is it possible, but your mortgage will be less than your rent. Let's get started! Andrea (lender at the bank) told her to call Joan Lord, she's the best! Ok, I wasn't at the bank, but Andrea did refer Page to me and I'm sure she said I was the best. We found home after home and put in offer after offer. But, when you are in a very competitive price range, and using this type of grant money (yes, Page didn't have to use any of her own), you are competing against investors and cash buyers. Every time (without fail) my buyer doesn't get a house they want, something else comes along that is better for them. Page was having trouble believing this, but she kept trudging forward. Finally we decided on a different tactic. We found her a terrific two-unit home in Hagerstown. Her mortgage is about $300/month less than her rent was in Frederick, and she can rent out the larger space and not only live for free, but have money towards her utilities too!
What's the funny part of this story? I have some super secret recipes! Shhhhh, don't tell.
I can't resist putting in a epilogue. Page got married (I was invited to the wedding!), moved into her husbands home, and is renting her first floor unit for approximately the mortgage payment. Once the second floor unit is rented (it's not ready as of January 2012), she will have a great positive cash flow and will be on her way to winning the real life game of Monopoly!
Contact Joan Lord with Horizon Realty to star in your "Episode."
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