Dear older sister
April 12, 2007Even if the mortgage company tells you you are qualified for a $200,000 VA mortgage at 6.25%, DO NOT take them up on it. Especially since you signed two different 6 year car loans for brand new vehicles in the last 6 months
Take the military up on its offer for FREE housing on the air force base. It is BRAND NEW and 4 bedrooms, 2 baths, even if it means crowding in to an apartment for a few months until it is ready.
If I had an offer for brand new free housing, I would jump on it.
Wow, she’s considering turning down the military’s offer of a new 4 BR, 2 BA house for FREE?! Is she crazy?!
Don’t move into “free” base housing. It is a ripoff and a nightmare. She could be making much more money if she buys a house, or rents because the military gives you a HUGE stipend to live in town that you don’t get if you live in base housing. Not only could she get this stipend, but she could be paying a mortgage with it which means the military is paying for her mortgage and she gets to keep the equity. because we don’t live on base we are able to have an extra 1200 a month AFTER OUR HOUSING PAYMENT just for kicks. Base housing is almost always a ripoff.
Actually, in my opinion, they came to their senses and are going to at least rent until the housing comes open in July. They may or may not move into it depending. The housing market there sucks and they decided that they didn’t want to get stuck with a house they would might not be able to sell as quickly as they sold their house plus property values are currently going down, so they would initially lose equity. Rent for a 3 bedroom place since they have 3 kids is actually equal to or more than their housing allowance in the area.