I have been wanting to write this post for a while. At the end of May I though it would be a different tale, but God knows whats best and shut one door and opened another.
This last winter we were finally able to pay off our debt. Its an amazing feeling to be debt free. We went into a loan office in Feb to see what we would need to do to get a home loan. We were told we needed to build back up our credit and that would take a year or more. We had a plan and some good sound advice. It was going to take us longer because we made a promise to NOT have any credit cards.
The plan changed in May. There was a house for sale, that was in our price range and it was a short sell. We talked and prayed and felt we needed to take the steps, and if this what God had in mind for us, then so be it. If not, we knew something better would come along. After getting a pre approval from the bank we made an offer contingent of funding. All the while we prayed that if this was good for us, and HIS will all would go smoothly. If not, that the door would firmly close. While the house was by no means perfect, in fact it was a 2 bedroom fixer, with a lot of potential, it was VERY doable. On the Monday of a week we got a call from our bank with the denial. They were very impressed with what we did, but would like to see 6-12 months more of NO debt, either good or bad, before they would fund to us. Door closed.
This is where the story gets interesting. Back in Dec. 2007 when we moved into this house we asked if the owners would be willing to sell, them carrying the contract. At that time they were not. See, we live in a very small little community. Aaron's bosses and friends of ours (married couple) are also our land lords, and she is the mayor of the town we are in. Well, he had a heart attach a year or so ago and just hasn't been able to keep up with all their rentals. They prayed and felt like they really needed to ask us if we were still interested in buying. This happened on the Wednesday of the same week.
While this house is also a fixer, we have lived comfortable in it for just about 3 years. We said we were interested. They sent an appraiser out and got a number. One that was very fair to us and them. We had a couple questions, one being, what if we can not get a loan from a bank in 5 years (the original idea is they would carry for 5 years)? With the way the world is going, who knows what could happen. We hadn't even had a change to ask the question and they came back to us and said they would carry the loan for 20 years.
God is so good in all of this. He is providing a house for us ( and we don't have to move!!!!!!!) The payment is just a smig over what we are paying now for rent. While it is no means prefect in this worlds standards, in our eyes its home.
Check out this great post by a friend of mine on what a wealthy home REALLY is. Its very good and a wonderful reminder to make our little cottage wealthy in what really counts.